Miracle Market

After a year of meandering, the stock market has caught fire. Stocks reached new highs in the year's first quarter, closing at 4161 on Mar. 29. That's an 8.5% gain since Jan.1, putting the index 12.2% above its mark a year ago. What's moving stocks? Treasury yields are falling as inflation fears fade. Then there are strong corporate profits, and a pile of reports suggesting a soft landing for the economy. Perhaps the Federal Reserve had it right.

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