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Financial Markets                      03/28 15:36

   

   NEW YORK (AP) -- Wall Street coasted to its latest winning month and quarter 
by rising to more records. The S&P 500 rose 0.1% Thursday, adding to its 
all-time high set the day before. It roared 10.2% in the first three months of 
the year as the market continues a nearly unstoppable run that began last 
October. The Dow Jones Industrial Average rose 0.1%, and the Nasdaq composite 
slipped 0.1% Treasury yields inched higher in the bond market following several 
reports on the economy. The yield on the 10-year Treasury rose to 4.20%. U.S. 
bond and stock markets will be closed for Good Friday.

   THIS IS A BREAKING NEWS UPDATE. AP's earlier story follows below.

   NEW YORK (AP) -- Wall Street is coasting to the close of its latest winning 
month and quarter on Thursday by rising toward more records.

   The S&P 500 was 0.2% higher in late trading and adding to its all-time high 
set 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 77 points, or 0.2%, as of 3 p.m. 
Eastern time, and on track to set its own record. The Nasdaq composite was 
virtually flat and close to its all-time high.

   The stock market has been on a nearly unstoppable run since late October, 
with the S&P 500 on the cusp of 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.

   Thursday is the last day of trading for both the U.S. stock and bond markets 
this month and quarter. Financial markets will be closed on Friday for Good 
Friday.

   In the bond market, Treasury yields inched higher following several 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 of a solid 
job market.

   Other reports showed that sentiment among U.S. consumers is stronger than 
economists expected, but manufacturing in the Chicago region is contracting by 
more than forecast.

   The yield on the 10-year Treasury rose to 4.20% from 4.19% late Wednesday. 
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. Christopher Waller, said in a 
speech late Wednesday that "there is no rush to cut the policy rate" given such 
data. "Indeed, it tells me that it is prudent to hold this rate at its current 
restrictive stance perhaps for longer than previously thought to help keep 
inflation on a sustainable trajectory toward 2%."

   On Wall Street, RH jumped 17.8% even though the retailer of home dcor 
reported weaker profit and revenue for the latest quarter than analysts 
expected. It also indicated demand is trending upward, and it gave a revenue 
forecast for the upcoming year that was slightly above analysts' expectations.

   Analysts said investors are ready to pounce on signs of a recovery in the 
housing market, with interest and mortgage rates expected to come down later 
this year.

   Chemours fell 9.2% despite reporting better results for the latest quarter 
than analysts expected. It gave a forecast for earnings before taxes and other 
items in the current quarter that was below analysts' expectations. The company 
also said its board has completed its internal reviews of accounting issues and 
found some weaknesses in its internal control over financial reporting.

   Also on the losing end was Trump Media & Technology Group. The company 
behind former President Donald Trump's Truth Social fell 6.4% after soaring 
more than 14% in each of the past two days. Its stock has shot well beyond what 
critics say is reasonable for the money-losing company, driven by fans of Trump 
and investors hoping to cash in on the mania.

   In stock markets abroad, Tokyo's Nikkei 225 slumped 1.5% amid speculation 
about whether Japanese officials will make moves to support the value of the 
Japanese yen.

   Movements were more modest across much of the rest of Asia and Europe.

   ___

   AP Business Writer Elaine Kurtenbach contributed.

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