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By STAN CHOE, Associated Press Business Writer

NEW YORK (AP) — U.S. stocks are hanging at the edge of their record heights on Monday as Wall Street waits to hear from the Federal Reserve later this week on what it will do with interest rates.

The S&P 500 was virtually unchanged in early trading and was sitting just 0.3% below its all-time high , which was set in October. The Nasdaq composite was up 0.3%, as of 9:38 a.m. Eastern time.

Most stocks were falling, but Warner Bros. Discovery rallied 7.8% after Paramount took its offer to buy the entertainment giant directly to shareholders . Paramount said it’s offering $30 in cash for each Warner Bros. Discovery share, as well as a quicker and easier way for investors to get their payout.

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