04:12 PM EDT, 05/06/2024 (MT Newswires) -- US equity markets ended higher Monday as traders evaluated comments by Federal Reserve officials.

* Richmond Fed President Tom Barkin said that he is "optimistic" that the current level of the federal funds rate is restrictive enough to slow demand and bring down inflation but said that the Federal Open Market Committee will act if the economy overheats or, conversely, if the economy slows more than expected.

* New York Fed President John Williams said that monetary policy decisions will be based on the incoming data and that rate cuts are likely as economic growth slows this year.

* June West Texas Intermediate crude oil closed up $0.40 to $78.51 per barrel, while July Brent crude, the global benchmark, was last seen up $0.37 to $83.33 after Israel rejected a cease-fire proposal from Egypt and Qatar.

* Tyson Foods ( TSN ) shares fell 6.2% after the company reported lower-than-expected sales in fiscal Q2.

* Synopsys ( SNPS ) shares were up 1.4% after the company agreed to sell its Software Integrity Group business to Clearlake Capital Group and Francisco Partners in a deal with a total value of up to $2.1 billion.