US stocks drift near their records as oil prices sink

By STAN CHOE, Associated Press Business Writer

NEW YORK (AP) — U.S. stocks are drifting near their record heights on Friday, while oil prices sink.

The S&P 500 rose 0.2%, coming off just its second loss in the prior 10 days. The Dow Jones Industrial Average was up 215 points, or 0.5%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.2% higher.

The U.S. stock market has been on a nearly relentless run and soared roughly 35% since a low in April, but momentum has slowed this past week. With the U.S. government shut down again, several important economic reports that normally move the market have been delayed.

More action may come later Friday morning, when the University of Michigan will release its latest update on how U.S. consumers are feeling.

In the meantime, the S&P 50