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• Dow logs best three-day stretch since April as Fed leaves interest rates on hold
  U.S. stocks rose on Wednesday, with the S&P 500...
  U.S. stocks rose on Wednesday, with the S&P 500 capping off its biggest three-day percentage-point gain since March after Federal Reserve Chairman Jerome Powell again suggested that rising Treasury yields were likely aiding the central bank’s fight against inflation. This could potentially ease the pressure on the Fed to push interest rates even higher, which helped boost stocks. The S&P 500 SPX finished higher for the third straight day, rising 44.04 points, or 1.1%, on Wednesday to 4,237.84. The index has gained nearly 3% over the last three trading days, its biggest such gain since March 31. The Nasdaq Composite COMP gained 210.23 points, or 1.6%, to 13,061, rising for a fourth day. The Dow Jones Industrial Average DJIA gained 221.71 points, or 0.7%, to finish Wednesday at 33,274.58. The blue-chip gauge has just seen its biggest three-day point gain since April 3.
  
  
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• Fed keeps freeze on interest rates in place as it fine-tunes its fight vs. inflation
  The Federal Reserve on Wednesday held interest rates steady and left the door slightly ajar for another...
  The Federal Reserve on Wednesday held interest rates steady and left the door slightly ajar for another hike down the road if inflation doesn’t continue to slow.
  
  The decision to hold rates steady in a range of 5.25%-5.5% was unanimous.
  

  
  
  Even though the economy expanded rapidly in the third quarter, Fed Chairman Jerome Powell said a series of interest-rate hikes since the spring of 2022 are putting downward pressure on inflation and economic growth.
  
  He also said he expects the economy to soften in the months ahead and help reduce inflation further, though the Fed is not forecasting a recession.
  
  
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• Expert shares cyber strategies for legacy O&G assets
  Enhanced connectivity in legacy oil and natural gas infrastructure makes it imperative for cybersecurity...
  Enhanced connectivity in legacy oil and natural gas infrastructure makes it imperative for cybersecurity professionals to identify and fortify critical assets and foster clear risk communication with decision-makers, according to ABS Consulting Senior Director of Cybersecurity Blake Benson. "Instead of defending the ocean, you really want to identify these little ponds of criticality" and "then you want to segment those as far away from the internet as possible and from each other to prevent lateral movement," Benson advises.
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• U.S. job openings creep up to 9.6 million. Demand for labor remains high
  The numbers: Job openings in the U.S. rose slightly in September to 9.6 million, indicating...
  The numbers: Job openings in the U.S. rose slightly in September to 9.6 million, indicating there’s still plenty of demand for labor.
  
  Job listings edged up from a revised 9.5 million in August, the Labor Department said Wednesday.
  
  The number of job openings is seen as a sign of the health of the labor market and the broader U.S. economy. Economists polled by the Wall Street Journal had forecast job listings to total 9.4 million.
  
  While job postings are still high, they have subsided from a record 12 million in 2022.
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• Energy Sector Commentary
  The energy sector is off to a...

  The energy sector is off to a higher start, supported by strength in the crude complex. Meanwhile, the major equity futures are flat ahead of today’s central bank meeting where traders expect the Fed to keep rates unchanged.

  
  

  WTI and Brent crude oil futures are recovering yesterday’s losses ahead of the keenly watched meeting of the U.S. central bank for clues on interest rate policy, falling treasury yields, and as the conflict in the Middle East escalates. Israel admitted to striking a refugee camp in Gaza which was being used as a command center by Hamas. An unconfirmed large number of civilians were killed and a number of world leaders have condemned the strikes. OPEC crude output rose by 180K bpd in October driven by Nigeria and Angola. EIA data is set to be reported today, following last night’s API reading which showed a crude build of 1.35 million barrels.

  
  

  Natural gas futures are pulling back after yesterday’s sharp gains despite forecasts for cooler temperatures.

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