The US stock market is drifting around its record heights as Wall Street sifts through mixed developments on everything from the US-China trade war to profits for Big Tech behemoths.

The S&P 500 slipped 0.4 per cent and edged a bit further from its all-time high set on Tuesday. The Dow Jones Industrial Average was up 143 points, or 0.3 per cent, as of 1:59 p.m. Eastern time. The Nasdaq composite fell 0.9 per cent from its record set the day before. The Australian sharemarket is set to advance, with futures pointing t a rise of 32 points, or 0.4 per cent, at the open. The ASX lost 0.5 per cent on Thursday to extend its losing streak to three sessions. The Australian dollar was weaker at US65.51¢ at 5.19am AEDT.

Stocks were also mixed in Europe and Asia, coming off a much anticipated mee

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