By STAN CHOE, AP Business WriterNEW YORK (AP) — U.S. stocks are drifting around their record heights on Monday following Wall Street’s seemingly relentless rally. Stocks have surged since April on hopes that President Donald Trump’s tariffs won’t derail global trade and that the Federal Reserve will deliver several cuts to interest rates that will boost the U.S. economy. The U.S. stock market still faces challenges, though. Chief among them is if the Fed does not cut interest rates as many times as investors expect. The Fed is wary because lower rates can give inflation more fuel, and inflation has stubbornly remained above its 2% target.