NEW YORK (AP) — U.S. stocks are rising at the start of a week that could show whether Wall Street’s record-breaking rally has been overdone. The S&P 500 climbed 0.4% in early trading Monday and was just above its all-time high set last week. The Dow Jones Industrial Average was up 61 points, or 0.2%, and the Nasdaq composite was up 0.5%. Tesla jumped after Elon Musk bought stock worth roughly $1 billion through a trust. The main event of the week arrives on Wednesday, when the Federal Reserve is widely expected to make its first interest rate cut of the year.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

See Full Page