01.10.202613:39:29UTC+00US Stocks Start Q4 on a Positive Footing

US stocks edged higher on Thursday as investors kicked off the fourth quarter following a volatile Q3. The S&P 500 rose 0.2%, the Nasdaq gained 0.5%, and the Dow Jones added nearly 80 points. The ongoing AI boom continued to underpin the broader market, offsetting the pressure from higher Treasury yields and a renewed rise in oil prices.

Communication services led sector performance, with technology shares also advancing, while materials stocks declined. Alphabet climbed 1.7% after starting the rollout of its latest AI model. Chipmakers contributed further support after Micron issued an upbeat outlook, lifting its shares by 0.2%.

Among other mega-cap technology names, Nvidia (0.8%), Microsoft (1.1%), Amazon (0.7%), Broadcom (0.5%), Meta (0.5%) and Tesla (0.5%) all traded higher, whereas Apple slipped 0.7%. Nike gained 1.1% ahead of its earnings release, scheduled for after the opening bell. On the downside, Eli Lilly (-0.9%), Exxon Mobil (-0.4%) and Bank of America (-0.6%) moved lower.