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.

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 Friday, as hope built on Wall Street that the U.S. economy can manage the rare feat of suppressing high inflation without causing a recession.