NEW YORK (AP) — U.S. stocks are ticking toward more records on Wednesday after the Federal Reserve cut interest rates, as virtually everyone on Wall Street expected.

The S&P 500 added 0.2% in afternoon trading. The Dow Jones Industrial Average was up 118 points, or 0.2%, as of 2:05 p.m. Eastern time, and the Nasdaq composite was 0.5% higher. All three indexes are coming off their latest all-time high.

The bond market was also relatively steady after the Fed surprised no one by cutting its main interest rate for the second time this year in hopes of helping the slowing job market . Wall Street is still waiting to hear Fed Chair Jerome Powell speak later in the afternoon, and the focus will be on whether he gives hints about more cuts in December and beyond. Wall Street is banking

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