The Dow Jones Industrial Average climbed 97.53 points to 52475.10, while the S&P 500 and Nasdaq Composite posted modest gains of 0.28% and 0.27% respectively. Market focus remains fixed on the internal divide within the rate-setting committee, which split 10-2. Governor Lisa Cook and Cleveland Fed President Beth Hammack dissented, advocating for a quarter-point increase to address persistent inflation.

Treasury markets reacted with volatility. While the two-year note yield edged down to 4.731% following Fed Chairman Kevin Warsh’s press conference, long-term bonds saw significant movement. The 10-year Treasury note yield rose 0.052 percentage point to 5.044%, marking its largest jump since late September. Warsh characterized the internal disagreement as a “family fight” and declined to commit to a December move, emphasizing a need to monitor incoming data. Gold futures retreated 0.6% to $4036.00 per ounce as the dollar showed slight weakness following the meeting.