Oh, definitely. Some songs, like "Beautiful" by Barenaked Ladies, can make me happy or sad, depending on my mood.
So music does change your feelings, and songs that are real upbeat usually make me happy right away. ^_^
I recently went to a Christian band festival and they were tons of Christian rock bands there. It was great. Then a slower band played and it really made me think.
Music changes my feeling for sure especially when I listen to Coldplay. I get a different feeling from everyone of there songs and can relate to them all in some way.