U.S. stocks are drifting higher on Wednesday as Wall Street waits to hear where the Federal Reserve may be taking interest rates. The S&P 500 was up 0.4% in midday trading. The Dow Jones Industrial Average was up 198 points,

The S&P 500 climbed 0.9% to reclaim most of its drop from Friday. The Dow Jones Industrial Average rose 317 points, or 0.8%, and the Nasdaq composite gained 1.5%. They joined a worldwide climb for stock prices, stretching from Asia to Europe.

U.S. stocks climbed on Monday, as oil prices retreated after the Israel-Iran attacks left crude production and exports unaffected, easing investor concerns about the potential for higher energy prices to stoke inflation.