US stock indexes tick higher as oil's dismal week eases

NEW YORK (AP) — U.S. stock indexes ticked higher in morning trading Thursday after the price of oil stabilized, at least for now.

Crude has dropped about 20 percent this year, which puts at peril the big gains in profits that analysts had forecast for energy companies.

Tech giant Oracle jumped $4.35, or 9.4 percent, to $50.68 for the biggest gain in the S&P 500 after reporting stronger revenue and earnings for its latest quarter than analysts expected.

Technology companies are expected to report some of the strongest earnings growth for the April-through-June quarter, one of the reasons their stocks have been helping to lead the market this year.

The consulting company reported quarterly earnings that were in line with analysts' expectations, but it also modestly trimmed the top end of its forecast for revenue growth this year, when taking changes in foreign-currency values into account.

Natural gas edged up a penny to $2.90 per 1,000 cubic feet, heating oil rose 2 cents to $1.39 per gallon and wholesale gasoline added 3 cents to $1.44 per gallon.