US stocks rise as Micron results lift AI shares

US stocks mostly rose early Thursday as Micron's results lifted artificial intelligence shares, though Micron itself retreated.

About 20 minutes into trading, the Dow Jones Industrial Average was flat at 50,889.70. The S&P 500 added 0.2 percent to 7,663.84, while the Nasdaq Composite Index also rose 0.2 percent to 26,920.14.

Micron reported profits of $37.7 billion amid demand for its products.

Micron's results were a “feather in the cap for the AI trade,” Briefing.com analyst Patrick O'Hare said. He said stocks were driven largely by “buy-the-dip interest” after September losses.

Major US indices had been under pressure for much of September as government bond yields rose along with crude prices during the prolonged US-Iran war.