US stocks preserve modest gain

Wall Street closed out an uneasy May with a solid advance today, even after minutes from the last Federal Reserve meeting indicated that inflation pressures raised the chance of another interest rate hike in June. The major indexes ended the month broadly lower.

Investors have been searching for clarity on the Fed’s next move after the central bank said in early May that higher rates could be needed to battle soaring energy prices. The notes from the Fed’s May 10 meeting said its inflation expectations have increased somewhat and left only a slight hint of a pause next month.