U.S. stocks inched higher yesterdayday as oil prices slipped, boosting optimism about corporate profits, and the Nasdaq was boosted by Google Inc.’s acquisition of video Web site YouTube Inc.

Exxon Mobil Corp. slipped after a brokerage cut its investment rating on the stock.

“The drop in oil prices is meaningful,” said Charles Lieberman, chief investment officer of Advisors Capital Management in Paramus, New Jersey. “It sure looks like oil is headed down and supplies have finally caught up with demand. It’s good news for corporate profits, it’s good news for the consumer and it’s good news for the economy.”

The Dow Jones industrial average was up 5.12 points, or 0.04 percent, at 11,862.93. The Standard & Poor’s 500 Index was up 1.03 points, or 0.08 percent, at 1,351.69. The Nasdaq Composite Index was up 3.75 points, or 0.16 percent, at 2,315.52.

Google shares jumped 1.3 percent to $434.61 after the Web search company announced the deal to buy YouTube for $1.65 billion in stock the day before.

Shares of Exxon, the world’s largest publicly traded oil company, fell 0.5 percent to $66.22 after Goldman Sachs cut its rating on the firm.

Crude for November delivery was down 54 cents at $59.42 a barrel. Drugstore chain CVS Corp. rose 2 percent to $30.35 after the company raised its earnings outlook for the third quarter and full year.

Aluminum producer Alcoa Inc. is due to kick off the third-quarter earnings reporting season when it posts results after the close on Tuesday. Analysts expect Alcoa to report sharply higher earnings, possibly double its results from a year ago.