Fed Holds Rates at 3.75%-4.00% as S&P 500 Gains and Oil Surges

U.S. stocks advanced as the S&P 500 rose 0.28% to close at 7,744.38 following the Federal Reserve's decision to maintain benchmark interest rates at 3.75% to 4%. Fed Chair Kevin Warsh signaled a patient stance ahead of December, though policymakers also hinted a hike remains possible. Fed Governor Lisa Cook and Cleveland Fed President Beth Hammack dissented, favoring an immediate 25-basis-point increase. Treasury yields steepened, with the 10-year yield reaching 5.0404%, while Brent crude topped $115 per barrel following Middle East geopolitical disruptions.