US stocks drift near their record heights as PayPal rallies and Royal Caribbean falls

By STAN CHOE, Associated Press Business Writer

NEW YORK (AP) — The U.S. stock market is drifting near its record heights on Tuesday.

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The S&P 500 added 0.1% in midday trading. The Dow Jones Industrial Average was up 227 points, or 0.5%, as of 11 a.m. Eastern time, and the Nasdaq composite was 0.3% higher. All three indexes are coming off their latest all-time highs.

Moves were also modest in the bond market as Wall Street waits for a few events that could shake things up. On Wednesday, the Federal Reserve will announce its latest move on interest rates, while some of the stock market’s most influential companies will report how much profit they made during the summer. On Thursday, President Donald Trump will meet China’s leader, Xi Jinping, in hopes of smoothing tension