The US stock market entered the fourth quarter with the Dow edging higher. Profit-taking emerged after an initially firm start, while positive earnings factors at AI-related and major stocks supported the market. With concerns over higher crude-oil prices and interest rates remaining, attention is focused on upcoming economic indicators.
In the New York market, the Dow Average closed at 50,926.56, slightly higher, while the S&P 500 closed at 7,666.45 and the Nasdaq at 26,871.60. After opening with early buying, profit-taking emerged, marking the start of the fourth quarter.
Among individual stocks, Accenture rose sharply after earnings per share and revenue exceeded expectations, with new orders also providing support. Micron rose as its earnings were well received, while expanding demand for AI infrastructure supported the share price.
Elsewhere, Constellation Energy rose on news of a major power-purchase agreement with Amazon. Vicor raised its earnings outlook on increased licensing revenue related to VPD. Rocket Lab and Mattel also attracted buying, while Liquidia fell because of the impact of litigation related to competing patents.
Higher crude-oil prices and interest rates were cited as market concerns, and economic indicators such as next week's US employment report are expected to be the focus for future market movements.