By STAN CHOE, Associated Press

NEW YORK (AP) — U.S. stocks are drifting near their record levels on Tuesday, as expectations for coming cuts to interest rates by the Federal Reserve continue to support financial markets.

The S&P 500 added 0.1% and was just below its all-time high set last week . The Dow Jones Industrial Average was up 32 points, or 0.1%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.2% higher, coming off its own record .

Treasury yields were holding steadier in the bond market following their sharp slide during recent weeks, when expectations cemented that the Fed will cut interest rates for the first time this year at its next meeting in a week.

A series of reports showing the U.S. job market is slowing has traders convinced that the Fed will se

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