Wall Street is drifting Thursday as gains for fashion brands and cigarette makers help offset drops for Ford Motor and Qualcomm following their latest profit reports. The S&P 500 was up 0.1% in afternoon trading following healthy gains for stock markets across much of Europe and Asia.

World shares were mostly lower on Monday after U.S. stocks edged back from their all-time high, with many Asian markets closed for holidays. In early European trading,

Most Asian shares dropped following a bruising session on Wall Street caused by fears the valuation of artificial-intelligence companies had become excessive.