Wall Street drifted through mixed trading Thursday as rising fashion and cigarette stocks worked against drops for Ford Motor and Qualcomm. The S&P 500 rose 0.4% following healthy gains for stock markets across much of Europe and Asia.

Some calm is returning to Wall Street, and U.S. stock indexes are making only modest moves after much of Europe and Asia rose earlier in the day

Wall Street shifted lower in early trading Wednesday as markets took in more corporate earnings reports while considering the impact of tariffs being imposed by the United States and China.

Asian shares are trading mostly higher after a Wall Street rally that followed profit reports from major companies

US stocks rallied on Tuesday after President Donald Trump temporarily paused tariffs on Mexico and Canada, but not on China, which gave Wall Street a break from escalating trade tensions and helped major indexes snap a two-day losing streak.

Trading on Wall Street is mixed and subdued with the arrival of more quarterly financial reports from major corporations and new data on the U.S. jobs market due over the final two days of the week. Futures for the S&P 500 and Dow Jones industrials shifted between tiny gains and losses before the bell Thursday,