Wall Street rises to more records to close out its latest winning month

NEW YORK >> 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 alltime 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 Nasdaq composite dipped 20.06, or 0.1%, to 16,379.46. It's just shy of its own all-time high.

The stock market has been on a nearly unstoppable run since late October, and the S&P 500 just capped 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 was 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.

Most stocks scrambled higher during the quarter, led by a pocket of companies riding Wall Street's continued frenzy around artificial-intelligence technology. Nvidia, whose chips are powering much of the AI rush, surged 82.5%.

The only stock in the S&P 500 to do better was Super Micro Computer, which just joined the index recently because it's also been caught up in AI mania. The company, which sells server and storage systems used in AI and other computing, saw its stock soar a staggering 255.3%.

In the bond market, Treasury yields inched higher Thursday following some mixed reports on the economy.

One said the U.S. economy's growth in the final three months of last year was stronger than earlier estimated. Another 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 twoyear Treasury, which more closely tracks expectations for the Fed, rose to 4.62% from 4.57%.