Stocks drift after Wall Street erases its morning gains

By STAN CHOE
AP Business Writer

NEW YORK (AP) — Stocks are drifting on Wall Street following another mixed batch of earnings reports. The S&P 500 was 0.3% lower in afternoon trading on Thursday after erasing an early gain of 0.9%. Stocks have been shaky this week, flipping from gains to losses and back again amid uncertainty about where interest rates and inflation are heading. Disney climbed after reporting stronger profit than expected. Shares of casino operators were rising on optimism about business in both Las Vegas and Asia. More companies announced layoffs, but the overall number across the economy remains relatively low. Treasury yields were rose.