U.S. stocks drifted to more records Tuesday after Chinese stocks soared following a slew of moves by the Chinese central bank to prop up the world’s second-largest economy.

The S&P 500 rose 0.3% to set an all-time high for the 41st time this year. The movements were tentative, though, and the index wavered up and down following a surprisingly weak report released in the morning on confidence among U.S. consumers.

The Dow Jones industrial average added 83 points, or 0.2%, to its own record set the day before, while the Nasdaq composite gained 0.6%.

Financial markets have been mostly ebullient after the Federal Reserve last week began lowering rates to make things easier for the U.S. economy after keeping them high for years in hopes of extinguishing high inflation.

One of the risks still hanging over the market is the struggling Chinese economy and how much its flagging growth may affect the rest of the world. The chief of China’s central bank on Tuesday announced a broad set of changes to bolster its economy, including a reduction in the amount of reserves banks are required to keep.

Analysts called the coordinated moves encouraging, and they helped stocks soar in China. Indexes jumped 4.2% in Shanghai and 4.1% in Hong Kong.

Prices climbed for crude oil and other commodities that a healthy Chinese economy would devour. Copper rose 3.3%.

AutoZone’s stock slipped 0.2% after the seller of auto replacement parts and accessories said a key measure of its sales performance among its U.S. stores barely grew during the latest quarter.

Thor Industries rose 6.1% following a mixed profit report. The maker of recreational vehicles reported better profit and revenue for the latest quarter than analysts expected.

One of Wall Street’s bigger winners was Smartsheet, which helps companies manage projects and automate workflows. It rose 6.5% after Blackstone and Vista Equity Partners agreed to buy it in an all-cash deal valued at $8.4 billion.

In the bond market, Treasury yields slipped following the weaker-than-expected report on consumer confidence. The 10-year yield fell to 3.73%, from 3.75% late Monday. The two-year yield, which more closely tracks expectations for the Fed’s upcoming moves, fell to 3.53% from 3.59% late Monday.

Nvidia’s jump of 4% was the strongest force lifting the S&P 500 index Tuesday.

All told, the S&P 500 rose 14.36 points to 5,732.93. The Dow added 83.57 to 42,208.22, and the Nasdaq composite gained 100.25 to 18,074.52.

— Associated Press