Stocks Rise to Open October Led by AI Names as Softer Inflation Offsets Fed Uncertainty

U.S. stocks climbed to start October on Thursday, with artificial intelligence-related shares leading the advance as investors processed a softer inflation reading against the backdrop of higher Treasury yields and continued uncertainty over the Federal Reserve's next rate move.

Micron Technology was among the names drawing attention after the chipmaker reported what Jim Cramer described as a spectacular quarter, with Cramer arguing the stock should have been trading higher given the strength of the results. The session also saw routine expansion of the options market, with new November 13th expiration contracts opening for CRH plc, the Consumer Staples Select Sector SPDR ETF and the Consumer Discretionary Select Sector SPDR ETF.