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.

Wall Street drifted through a mixed day of trading as rising fashion and cigarette stocks worked against drops for Ford Motor and Qualcomm. The S&P 500 rose 0.4% Thursday following

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 0.2% in early trading following healthy gains for stock markets across most of Europe and Asia.