NEW YORK — U.S. stocks drifted higher Tuesday, nudging Wall Street closer to the edge of what’s called a bull market.

The S&P 500 rose 10.06 points, or 0.2%, to 4,283.85. It’s just 0.2% away from finishing a day 20% above where it was in mid-October, as a long-predicted recession has yet to hit and excitement around artificial intelligence helped some stocks soar.

The Dow Jones Industrial Average edged up by 10.42 points, or less than 0.1%, to 33,573.28, while the Nasdaq composite rose 46.99 points, or 0.4%, to 13,276.42.

This week has few top-tier economic reports and corporate earnings updates; next week, the U.S. government will publish its latest monthly updates on inflation and the Federal Reserve will meet on interest-rate policy. Wall Street is betting the Fed may hold off on hiking rates, which would be the first time that’s happened in more than a year.

Some parts of the economy already buckled under much higher interest rates, including manufacturing and the U.S. banking system, though many banks rose Tuesday.

Some of the day’s strongest action was in the cryptocurrency world after the Securities and Exchange Commission charged Coinbase with operating its trading platform as an unregistered national securities exchange, broker and clearing agency.

Shares of its parent, Coinbase Global, tumbled 12.1% after the SEC also accused it of being liable for some of Coinbase’s violations. Other charges focused on Coinbase’s staking-as-a-service program, where users get payments for their crypto almost like earning interest from a traditional bank savings account.

A day earlier, the SEC filed 13 charges against another huge crypto trading platform, Binance, and its founder.

Elsewhere in markets, oil prices gave up some gains driven earlier in the week by Saudi Arabia’s announcement that it would cut production to boost crude’s price. A barrel of U.S. crude fell 41 cents to $71.74. A barrel of Brent crude, the international standard, sank 42 cents to $76.29. Both were close to $120 a year ago.

On the winning side, Gitlab soared 31.2% after the software development platform gave a revenue forecast for the fiscal year that topped analysts’ expectations. It also said it expects to turn in a milder loss than Wall Street forecast, as it benefits from an AI rush.

Even though the S&P 500 is nearing a bull market, almost as many stocks within it are down this year as up as worries remain about falling corporate profits, still-high inflation and much higher interest rates than a year ago.

In the bond market, the yield on the 10-year Treasury slipped to 3.68% from 3.69% late Monday.