The stock market was up on Monday to start a week packed with corporate earnings, inflation data and monthly jobs report.
Overall, S&P 500 and NASDAQ increased 0.3% to 5,824 and 18,567, respectively.
Tweet of the Day
Wow! Huge beat by S&P Global $SPGI. We own this stock in my Conservarive Growth Portfolio and I'll be adding shares to client accounts today. https://t.co/212ADtWuvb
— David Sharek (@GrowthStockGuy) October 24, 2024
Chart of the Day
Here is the ten-year chart of Accenture (ACN) as of October 3, 2024, when the stock was at $361.
Accenture delivered slightly positive performance last quarter as it delivered a 3% increase in both profit and revenue growth. However, the big story was new bookings surged 21% as large-scale transformations and advancements in Generative AI (Gen AI) saw increased demand. Management stated that GenAI can analyze large amounts of data, automate tasks, and enhance productivity across different industries, but that did not really describe how positive the bookings figure was.
Accenture just ended its Fiscal 2024. 2025 is looking good as bookings turn into revenue in the coming quarters. The company had 13% bookings growth last year, positioning itself well for 2025.
ACN is part of our Conservative Growth Portfolio.
