The US stock market is drifting near its record heights on Tuesday.

The S&P 500 added 0.3 per cent in afternoon trading. The Dow Jones Industrial Average was up 336 points, or 0.7 per cent, and the Nasdaq composite was 0.8 per cent higher. All three indexes are coming off their latest all-time highs.

The Australian sharemarket is set to rise, with futures pointing to a gain of 19 points, or 0.2 per cent, at the open. The ASX lost 0.5 per cent on Tuesday. The Australian dollar was stronger at US65.89¢ at 5.20am AEDT.

Moves were also modest in the bond market as Wall Street waits for a few events that could shake things up. On Wednesday, the Federal Reserve will announce its latest move on interest rates, while some of the stock market’s most influential companies will report how much p

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