(AP)– U.S. stocks are drifting around their record heights on Monday following Wall Street’s seemingly relentless rally.

The S&P 500 rose 0.2% after erasing what had been a modest loss earlier in the morning. The Dow Jones Industrial Average was up 8 points, or less than 0.1%, as of 11:30 a.m. Eastern time, and the Nasdaq composite was 0.3% higher. All three are on track to top their latest all-time highs, which were set on Friday.

Stocks have surged since April on hopes that President Donald Trump’s tariffs won’t derail global trade and that the Federal Reserve will deliver several cuts to interest rates that will boost the U.S. economy. The Fed made its first cut of the year last week, and officials indicated they could deliver more through the end of this year and into next.

“Every t

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