Wall Street’s three major indexes closed higher on Wednesday and the dollar rose along with U.S. Treasury yields after U.S. retail sales data for January rose by the most in nearly two years, suggesting a resilient economy while fueling concerns about further interest rate hikes. After two straight monthly declines, the Commerce Department said retail sales surged 3.0% last month, the largest increase since March 2021, after declining by an unrevised 1.1% in December.
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