Stocks hugged the flat line Wednesday afternoon on the heels of a mixed session a day earlier, with the three major indexes struggling for direction ahead of key economic data reports later this week.

[Click here to read what’s moving markets heading into Thursday, June 3]

The three major indexes fluctuated between small gains and losses. Brent and West Texas intermediate crude oil prices extended gains after hitting their highest levels since 2018 on Tuesday, after OPEC+ suggested demand would rebound during the recovery and opted for gradual supply increases. Treasury yields fell.

Shares of Zoom Video Communications (ZM) jumped after the company’s first-quarter earnings and current-quarter guidance topped estimates, helping alleviate concerns over a growth slowdown for the software company as more in-person activities resume. Meanwhile, “meme stock” AMC Entertainment Holdings (AMC) rallied by more than 125% at session highs to a…

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