U.S. stocks are ticking higher after a rally spurred by hopes for lower U.S. interest rates wrapped around the world.

The S&P 500 was up 0.3% in early trading Wednesday, coming off its latest all-time high.

The Dow Jones Industrial Average was up 136 points, or 0.3%, while the Nasdaq composite was up 0.4% after setting its own record the day before.

Stocks got some lift from easing Treasury yields in the bond market, as expectations build that the Federal Reserve will cut its main interest rates for the first time this year at its next meeting in September.