Stock Market News, Nov. 2, 2023: Indexes Finish Higher After Broad Advance; Apple, Starbucks

The post-Fed party continued Thursday, with the S&P 500 recording its best day since April. Read the day’s full markets roundup here.

Stocks climbed broadly, extending gains a day after Federal Reserve Chair Jerome Powell hinted the central bank might be done raising rates for now—even if he was careful not to rule out another increase. Bond yields fell significantly for a second day.

Major stock indexes jumped. All three indexes were up at least 1.7%, while all of the S&P 500’s sectors were in the green. The Dow was up 565 points.

Starbucks was one of the S&P 500’s best performers. Its shares jumped more than 9% after the coffee shop chain’s earnings topped estimates.

Roku shares rose some 30%. The streaming company reported revenue that beat expectations.

Moderna’s stock was down big. The vaccine maker fell more than 6% after reporting a sharp drop in profits.

Benchmark 10-year Treasury yields fell below 4.7%, settling at 4.668%, after trading near 5% last week.

Oil rose. Front-month Brent crude, the international benchmark, settled up 2.6% at nearly $87 a barrel.

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