Stocks Rise as Bond Yields and Oil Prices Drop, Easing Inflation Fears

Wall Street closed higher as bond yields eased, giving relief to stocks. The S&P 500 rose 0.8% and the Dow rose 0.4%.

Oil prices dropped $5/barrel, easing inflation worries. This helped send stocks higher.

ADP report showed a sharp hiring slowdown, suggesting the economy may be cooling. This could mean less pressure on the Fed to hike rates.

Services industry growth slowed a bit more than expected in September, another sign of economic cooling.

Big Tech stocks like Tesla, Microsoft, and Alphabet rose and helped support the market after leading losses the day before.