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Stock market today: Wall Street slips in early trading and crude oil prices rise

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NEW YORK (AP) — Wall Street is dipping in early trading following a mixed set of profit reports from big U.S. companies. Worries about war in the Middle East are also dragging on the market. The S&P 500 was 0.

5% lower in the early going Wednesday. The Dow fell 69 points, and the Nasdaq composite was down 0.7%. Crude oil prices jumped sharply overnight following a deadly explosion at a hospital in the Gaza Strip, which sparked protests across the Middle East. But oil prices pared their gains as the morning progressed. Gold, meanwhile, kept rising as investors have looked for safer investments.

Within hours after a blast was said to have killed hundreds at a Gaza hospital, protesters hurled stones at Palestinian security forces in the occupied West Bank and at riot police in neighboring Jordan, venting fury at their leaders for failing to stop the carnage. A planned meeting between Arab leaders and President Joe Biden was called off. He is visiting Israel.

U.S. benchmark crude oil was up $1.60 at $87.04 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, climbed $1.56 to $91.46 per barrel. Weak global demand and the property industry remain the biggest shadows overhanging the economy in the near term, economists said.

The Nikkei 225 in Tokyo closed flat, gaining less than 2 points to 32,042.25. South Korea's Kospi added 0.1% to 2,462.60. Australia's S&P/ASX 200 advanced 0.3% to 7,077.60.Treasury yields in the bond market rose. The yield on the 10-year Treasury was at 4.84% early Wednesday.

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