NEW YORK (AP) — Stocks drifted through a quiet day and held near their record heights following a mixed set of profit reports.

The S&P 500 slipped 0.1% from its record Tuesday. The Dow rose 0.3%, and the Nasdaq composite fell 0.8%.

UPS slumped after forecasting weaker revenue for 2024 than analysts expected. General Motors jumped after its profits beat forecasts.

Treasury yields were mixed in the bond market following reports that showed the economy remains stronger than expected.

The Federal Reserve began its latest policy meeting on interest rates. Wall Street hopes the Fed will hint at a rate cut coming in March.