Stock market today: Wall Street holds near records as it coasts to another winning month and quarter
Stocks are holding relatively steady as Wall Street coasts into the close of its latest winning month and quarter
NEW YORK — U.S. stocks are holding relatively steady Thursday as Wall Street coasts into the close of its latest winning month and quarter.
The S&P 500 was 0.1% higher in midday trading after setting an all-time high the day before. It’s roared roughly 10% in this year’s first three months. The only quarter that’s been better in the last two years was the one that came just before.
The Dow Jones Industrial Average was up 1 point, or less than 0.1%, as of 11 a.m. Eastern time, and the Nasdaq composite was virtually flat. Both are also close to their records.
The stock market has been on a nearly unstoppable run since late October, with the S&P 500 heading for its fifth straight winning month. It’s leaped as the U.S. economy has remained remarkably solid despite high interest rates meant to get inflation under control. And with inflation hopefully still cooling from its peak, the Federal Reserve has indicated it will likely cut interest rates several times later this year.
Conditions in financial markets could be shaky Thursday, though, as mutual funds and other big institutional investors look to make their last moves before they close their books on the first quarter.
The bond market will close early in the afternoon. Both it and the U.S. stock market will be closed on Friday for Good Friday.
In the bond market, Treasury yields held relatively steady following a couple reports on the economy. One said that the U.S. economy’s growth in the final three months of last year was stronger than earlier estimated. Another one said fewer U.S. workers applied for unemployment benefits last week, the latest indication
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