US stock indexes edge higher in morning trading
Major U.S. stock indexes edged higher in morning trading Wednesday as investors sized up the latest company earnings and new data showing residential construction slowed last month.
Energy stocks led among the gainers as oil prices headed higher, while consumer-focused companies lagged the most.
Investors are poring over company earnings reports to gauge the market's prospects for growth in coming months and get a better handle on the state of the economy.
A pickup in crude oil prices helped lift several energy companies.
Shares in Manhattan Associates tumbled 8.9 percent after the business software company reported weak quarterly sales and cut its revenue outlook.
The Commerce Department said residential construction slowed 9 percent in September to a seasonally adjusted annual rate of 1.05 million units.
A steep drop in apartment construction overshadowed a surge in single-family home construction.