US stock indices rose sharply; the Dow turned positive intraday, and the S&P 500 and Nasdaq gained about 0.3%, reaching intraday highs.

IDF spokesman Efie Defrin said on the 28th in a Northern Command video that in recent multi-front operations the Israeli military has killed nearly one-third of HEZBOLLAH’s armed personnel. Defrin said the IDF has killed more than 2,500 HEZBOLLAH fighters since the escalation and that HEZBOLLAH has about 30,000 armed personnel.

Federal Reserve Vice Chair JEFFERSON said he expects inf to cool later this year as the effects of tariffs and higher energy costs fade, but warned that inf risks remain tilted to the upside. In the text of a speech planned for Thursday morning in Tokyo at a conference hosted by the BANK OF JAPAN, JEFFERSON said he is watching for signs that energy-cost increases caused by the Iran war are weighing on consumer spending. He also warned he continues to see signs of labor-market softness. JEFFERSON reiterated his view that the central bank’s current policy stance is well positioned to respond to any developments. "I am not making a prediction about the next meeting, and I look forward to discussing with my colleagues the best policy needed to achieve our dual-mandate goals," he said.