U.S. stocks are rising toward more records on Wednesday as Wall Street waits to hear from the Federal Reserve in the afternoon about what it will do with interest rates.

The S&P 500 added 0.3% in morning trading. The Dow Jones Industrial Average was up 231 points, or 0.5%, as of 10:15 a.m. Eastern time, and the Nasdaq composite was 0.6% higher. All three indexes are coming off their latest all-time high.

The bond market was also relatively steady as the countdown ticked to the announcement from the Fed. The widespread expectation is that it will announce the second cut of the year to its main interest rate in hopes of helping the slowing job market. More important will be whether the Fed gives hints about another cut to rates in December and beyond. Wall Street is banking on it.

In the

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