NEW YORK (AP) — Wall Street is stuck on pause as it waits to hear from the Federal Reserve in the afternoon, when the central bank is expected to deliver the first cut to interest rates of the year. The S&P 500 edged up 0.1% early Wednesday and was drifting near its record set on Monday. The Dow Jones Industrial Average was up 175 points, and the Nasdaq composite was flat. Workday jumped after Elliott Investment Management said it’s built a stake of more than $2 billion in the company. RCI Hospitality Holdings tumbled after New York’s attorney general accused executives of bribery and other crimes.

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

See Full Page