NEW YORK (AP) — U.S. stocks are hanging near their records Monday following a wild start to the week for financial markets in Asia, where Japanese stocks tumbled and Chinese indexes soared.

Stocks in Asia are mostly higher, boosted by moves by China to rev up its economy. The Hang Seng in Hong Kong advanced 3.7% and the Shanghai Composite index jumped 2.1% after China’s central bank cut

Trader bets, as per the CME Group’s FedWatch tool, initially favored a larger Fed move at its upcoming November meeting, after Governor Christopher Waller on Friday flagged that upcoming inflation data could undershoot the Fed’s 2% target.

U.S. stocks closed another record-setting week with a muted performance Sept. 27, as hope built on Wall Street that the U.S. economy can manage the rare feat