NEW YORK — U.S. stocks are hanging near 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 edged down by 0.1% in morning trading but remains just 0.4% below its all-time high, which was set in October. The Dow Jones Industrial Average was down 158 points, or 0.3%, as of 10:15 a.m. Eastern time, and the Nasdaq composite was virtually unchanged.

Warner Bros. Discovery helped lead the market and rallied 6.8% 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.

Paramount wants investors to take i

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