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Stocks rose on the first trading day of October, clawing back earlier declines as Treasury yields pulled back from their highest levels in more than 20 years.
The Dow Jones Industrials forged into the plus column 21.28 points to 50,927.33
The S&P 500 index gathered 15.17 points to 7,666.71.
The NASDAQ Composite broke even 10.53 points to 26,871.60.
Micron posted blockbuster earnings with revenue quadrupling last quarter. However, the stock failed to catch a bid having already risen more than 200% this year. Shares changed direction and gained $32.28, or 3%, to 1,097.39.
Wells Fargo has downgraded ExxonMobil to equal weight but maintained a price target of $182 per share, implying 12% upside from
Wednesday’s close of $162.75. Shares closed higher 20 cents to $1,097.39.
Tech shares led the broader market in September as a majority of stocks in the benchmark declined. That pattern held early Wednesday with most stocks outside of technology weaker or flat
Prices for the 10-year Treasury regained lost ground, reducing yields to Wednesday’s 5.29%. Treasury prices and yields move in opposite directions.
Oil prices picked up $2.65 to $93.07 U.S. a barrel.
Gold prices heightened $19.90 to $4,206.60 U.S. an ounce.
