Stock market today: World shares waver as China-led rally fades

A brief China-led rally has faded, leaving shares in Europe and Asia mixed after a strong start that extended overnight gains on Wall Street. U.S. futures and oil prices were lower. Markets had surged Tuesday after Beijing announced a flurry of measures aimed at reviving the housing market after a prolonged downturn. That news also boosted prices for oil, copper and other commodities. The S&P 500 rose 0.3% Tuesday to set an all-time high for the 41st time this year. The Dow Jones Industrial Average added 0.2% to its own record set the day before, while the Nasdaq composite gained 0.6%.