Wall Street is drifting Wednesday as gains for most stocks outweigh drops for Alphabet and some other big-name companies following their latest profit reports. The S&P 500 was 0.2% higher in late trading.

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

Nvidia and other U.S. tech stocks are holding steadier Tuesday, a day after tumbling on doubts about whether the artificial-intelligence frenzy really needs all the dollars being poured into it.

Calm returned to Wall Street Tuesday, and tech stocks led U.S. indexes higher following a strong profit report from Palantir Technologies, a darling benefiting from the artificial-intelligence boom. The S&P 500 rose 0.