Stocks struggled for direction on Thursday while the dollar stumbled as the euphoria from market tailwinds earlier in the week fizzled out, with traders looking to U.S. data later in the day for further catalysts.

Wall Street stocks mostly rose Tuesday while oil prices advanced, extending a rally as the improved state of US-China trade boosts the economic outlook.

Stocks are wavering on Wall Street and holding on to most of the gains they made earlier in the week after the U.S. and China declared a temporary cease-fire in their trade war.

Stocks are edging higher in early trading on Wall Street, adding to their gains for the week. The S&P 500 was up 0.3% in the first few minutes of trading Wednesday. The index erased the remainder of its losses for 2025 a day earlier.

Wall Street kept climbing on Wednesday as all major stock indexes ended the day higher, continuing a rally that started earlier in the week. The S&P 500 moved up by 0.10%, landing at 5,892.58, which was just enough to push it into positive territory for the year.

The S&P 500 benchmark stock index hit another milestone in its remarkable march higher from the brink of a bear market in recent weeks: It has now erased all its losses for this year.

The S&P 500 was up 0.8 per cent in morning trade in New York after data showed US inflation unexpectedly fell to 2.3 per cent in April. The move extended the past month’s rebound and left the Wall Street benchmark 0.