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.

Major Wall Street indexes ended a choppy trading session little changed after the U.S. central bank held interest rates steady on Wednesday, while the six-day-old Israel-Iran air war kept oil prices climbing on fears of escalation and supply disruption.