Finance

The Federal Reserve released the minutes from its September meeting, uncovering a far more divided discussion among policymakers than previously suggested by their unanimous decision to raise rates. Traders closely analyzed the release to gauge the likelihood of another rate hike later this month. The internal disagreement underscores changing economic signals and ongoing concerns over the trajectory of inflation.

Crude oil prices advanced with West Texas Intermediate trading above $90 a barrel and Brent crude pushing past $101 a barrel. Prices are being driven upward by ongoing threats to Gulf supply routes, alongside a wider-than-expected August U.S. trade deficit of $105.6 billion. Chevron's leadership also warned that low inventory levels leave the global energy system vulnerable to further volatility.

A $39 billion auction of 10-year Treasury notes saw robust demand from investors, helping to cool down yields that had earlier surged to their highest levels since 2002. The notes cleared at a 5.3% yield, which was lower than anticipated by market participants heading into the session. This strong interest from indirect bidders left commercial dealers with an unusually small allocation of the sale.