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Stock market today: Wall Street drifts in early trading

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NEW YORK (AP) — Stocks are still stuck on pause as Wall Street continues to recalibrate following its sharp recent swings. The S&P 500 was up 0.2% early Wednesday and on track for a third straight day of quiet trading.

The Dow edged up 38 points, and the Nasdaq composite was up 0.1%. Rivian Automotive jumped 6.2% after the electric vehicle company raised its forecast for how many vehicles it will produce this year. The 10-year Treasury yield held relatively steady at 4.56%. The price of U.S. crude oil is back to where it was in July, and it slipped another 1% in early trading.

Crude prices have retreated to levels last seen in July, before the Israel-Hamas war raised worries about potential disruptions to supplies. The Asia-Pacific Economic Cooperation forum meetings in San Francisco offer an opportunity for top leaders from the U.S. and China to mend troubled trade and political ties.

France’s CAC 40 edged up 0.14% to 6,995.98 and Germany’s DAX lost 0.07% to 15,141.98. Britain’s FTSE 100 edged up less than 0.1% to 7,413.84. The future for the S&P 500 was down less than 0.1% while that for the Dow industrials was unchanged. Moody’s Investors Service affirmed the government of Japan’s A1 long-term foreign currency and local currency issuer and local currency senior unsecured ratings. The outlook was maintained at stable.

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