Stocks Ended Mostly Higher, Oil Futures Declined

U.S. stocks closed mostly higher on Thursday after the Federal Reserve Chairman Jerome Powell unveiled effort to target higher inflation. The Dow Jones Industrial Average advanced 160.35 points, or 0.57%, to 28,492.27. The S&P 500 rose 5.82 points, or 0.17%, to 3,484.55. The Nasdaq Composite fell 39.72 points, or 0.34%, to 11,625.34.

Oil futures declined Thursday, as traders bet on a quick recovery for the energy market in the Gulf of Mexico region after one of strongest hurricanes in years made landfall near the heart of the U.S. refining industry. West Texas Intermediate crude for October delivery declined by 35 cents, or 0.8%, to settle at $43.04 a barrel. October Brent crude declined 55 cents, or 1.2%, to $45.09 a barrel.