US stocks indexes edge higher; oil heads lower

FILE - In this Wednesday, Oct. 8, 2014, file photo, American flags fly in front of the New York Stock Exchange. Global shares mostly fell in thin trading Thursday, Dec. 29, 2016, taking their cues from a slide on Wall Street. A stronger yen helped send Japanese stocks lower. (AP Photo/Mark Lennihan, File) FILE - In this Wednesday, Oct. 8, 2014, file photo, American flags fly in front of the New York Stock Exchange. Global shares mostly fell in thin trading Thursday, Dec. 29, 2016, taking their cues from a slide on Wall Street. A stronger yen helped send Japanese stocks lower. (AP Photo/Mark Lennihan, File)

By Associated Press December 29, 2016 2 min read

U.S. stocks edged mostly higher in early trading Thursday, led by utilities and phone companies. Banks fell, and the price of crude oil was headed lower. Trading was light ahead of the New Year’s Day holiday.

KEEPING SCORE: The Dow Jones industrial average rose 28 points, or 0.1 percent, to 19,862 as of 10:02 a.m. Eastern time. The Standard & Poor’s 500 index added 3 points, or 0.1 percent, to 2,253. The Nasdaq composite fell 2 points, or 0.1 percent, to 5,435.

BIG GAINER: Newmont Mining climbed 3.8 percent, the biggest gainer in the S&P 500 index. The stock added $1.19 to $33.97.

CHIPS ARE DOWN: Nvidia slumped 4.7 percent, on pace for the steepest loss in the S&P 500 index. The chipmaker’s shares have tripled in value this year. They were down $5.05 to $104.10 on Thursday.

FINANCIAL LIFELINE: Sears surged 5.5 percent after the struggling retailer said it obtained a letter of credit that the company can use to fund its operations. The stock gained 46 cents to $8.65.