NEW YORK (AP) — Wall Street is stuck on pause Wednesday as it waits to hear from the Federal Reserve in the afternoon, when it’s expected to deliver the first cut to interest rates of the year .

The S&P 500 was virtually unchanged and was drifting near its record set on Monday . The Dow Jones Industrial Average was up 211 points, or 0.5%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.2% lower.

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