S&P 500 inches higher, heads for first gain in 5 days

NEW YORK – U.S. stocks perked higher in Thursday morning trading, and the Standard & Poor’s 500 index was on track for its first gain in five days.

Crude oil inched higher following a plunge Wednesday, and Asian stocks recovered some of their sharp losses from the day before.

KEEPING SCORE: The Standard & Poor’s 500 index was up 2 points, or 0.1 percent, at 2,631, as of 10:05 a.m. Eastern time. If the S&P 500 remains higher through the day, it would snap the longest losing streak for the index since March. Losses over that span have been modest, though, with the index never dropping more than 0.4 percent in a day over that time.

The Dow Jones industrials average rose 48, or 0.2 percent, to 24,188, and the Nasdaq composite gained 15, or 0.2 percent, to 6,791. Three stocks rose on the New York Stock Exchange for every two that fell.

UP, AND MOSTLY DOWN, WEEK: Markets have drifted mostly lower this week, as Congress moves finalizes its proposal to overhaul the tax system and send it to President Donald Trump. The House and Senate’s plans would create slightly different winners and losers among corporate taxpayers, and investors have been trying to shift to areas of the market that they see ultimately benefiting the most. That’s caused investors to pull out of technology stocks at times and into financial companies and retailers, though the flows have been choppy.

BIT MORE ENERGETIC: Energy stocks recovered some of their losses from a day earlier as the…

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