Stocks fluctuate as debt-ceiling talks and earnings reports dominate market focus.

Stocks rose during midday trading on Wednesday as investors remain hopeful for a breakthrough in the debt-ceiling talks. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all gained. Treasury Secretary Janet Yellen and others have warned of catastrophic impacts on the US economy in the case of a default, seen as potentially coming as early as June. US housing starts grew 2.2% in April, while building permits issued fell 1.5%. Target topped Wall Street's earnings expectations, but took a cautious tone on consumers, while The TJX Companies posted an earnings beat for its first quarter, but offered disappointing guidance. Tesla shares advanced more than 3% after the EV maker held its annual shareholder meeting.