NEW YORK (AP) — Stocks are drifting on Wall Street, and oil prices are jumping after President Donald Trump announced “massive” new sanctions on Russia’s crude industry. The S&P 500 rose 0.1% in the early going Thursday. It’s just a bit below the all-time high it set earlier this month. The Dow Jones Industrial Average was little changed, and the Nasdaq composite was also flat. Tesla fell after reporting a weaker profit for the latest quarter than analysts expected, even though its revenue rose more than forecast. The price of oil jumped 5.6% after Trump announced sanctions against Russian oil giants Rosneft and Lukoil.

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