Stock Market Today: S&P 500 clinches fresh record high as Treasury yields stumble

Investing.com-- The S&P 500 clinched a fresh record closing high Wednesday, as Treasury yields slipped ahead of a speech from Federal Reserve governor Christopher Waller due later in the day and more cues on inflation.Treasury yields fell ahead of closely anticipated remarks from Fed governor Waller even as some Wall Street warn that the Fed governor may lean hawkish to rein in dovish Fed expectations.

"While not dismissing the prospect of a June cut, Waller may point to sturdy US aggregate demand and 'sticky' inflation in the January and February data to justify fewer rate cuts than the median 'dots' imply," Macquarie said a note ahead of Waller's speech at 18:00 EST.

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