Wall Street set more records Thursday as U.S. stocks coasted to the close of their latest winning month and quarter. The S&P 500 added 5.86 points, or 0.1%, to its all-time high set a day before and closed at 5,254.35. That sent its gain for the year’s first three months to a fat 10.2%. The only quarter that’s been better in the last two years was the one that came just before. The Dow Jones industrial average ticked up by 47.29 points, or 0.1%, to 39,807.37 and likewise set a record.
The yield on the two-year Treasury, which more closely tracks expectations for the Fed, rose to 4.62% from 4.57%. The hope on Wall Street is still that the Federal Reserve will begin cutting its main interest rate in June. Lower interest rates ease the pressure on the economy, while boosting prices for investments. But progress on bringing inflation down has become bumpier recently, with reports this year coming in hotter than expected. A top official at the Federal Reserve, Gov.
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