U.S. stocks are drifting as some momentum comes out of the torrid “Trump trade” that swept Wall Street following Donald Trump’s presidential victory.

U.S. stocks are ticking higher ahead of the Federal Reserve’s announcement coming later in the afternoon about what it will do with interest rates.

U.S. stocks cruised to more records as they closed their best week in a year on Friday. The S&P 500 rose 0.4% to cap its biggest weekly gain since early November 2023 and briefly crossed above the 6,000 level for the first time.