U.S. stocks inched slightly higher today after Wall Street coasted to the close of another winning week, according to the Associated Press. Futures for the S&P 500 edged up 0.1%, and futures for the Dow Jones Industrial Average were less than 0.1% higher.
On Friday, the S&P 500 rose 0.2% to 5,222.68 to finish a third straight winning week following a mostly miserable April.
The S&P 500 is within 0.6% of its record, helped by revived hopes the Federal Reserve may cut interest rates this year. A flood of stronger-than-expected reports on profits from big U.S. companies has also helped support the market.
In the bond market, Treasury yields rose following a discouraging preliminary report from the University of Michigan. It suggests sentiment among U.S. consumers is weakening much more than economists expected.
In other trading today, benchmark U.S. crude rose 33 cents to $78.59 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, was 27 cents higher at $83.06 per barrel.
The U.S. dollar edged up to 155.88 Japanese yen from 155.70 yen.
