Stock market today: Wall Street drifts as bitcoin jumps to another record

NEW YORK (AP) — U.S. stock indexes are drifting Monday ahead of a meeting by the Federal Reserve later this week that could set Wall Street’s direction into next year.

The S&P 500 rose 0.5% in afternoon trading, coming off its first losing week in the last four. The Dow Jones Industrial Average slipped 43 points, or 0.1%, as of 1:10 p.m. Eastern time, while the Nasdaq composite rose 1.2%.

MicroStrategy climbed 6% as it continues to benefit from the surging price for bitcoin, which set another record.