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U.S. stocks advanced, sending the Dow Jones Industrial Average toward the highest level since 2007, as retail sales rose by the most in five months and as investors awaited a Federal Reserve decision on interest rates.
Equities advanced after data showed retail sales rose 1.1 percent in February, matching the median forecast of 81 economists. Yet a pickup in payrolls accompanied by limited wage gains may not be enough to satisfy Fed officials, who today will probably reaffirm a commitment to keep interest rates low.
Dow 13,070.78 +111.07 +0.86%, Nasdaq 3,016.15 +32.49 +1.09%, S&P 500 1,383.46 +12.37 +0.90%
JPMorgan (JPM) increased 2 percent to $41.33. Bank of America Corp. (BAC) rallied 1.9 percent to $8.14 today.
Carmike Cinemas Inc. gained 14 percent to $10.33. The fourth-largest U.S. theater chain posted fourth-quarter revenue that exceeded the average analyst projection.
Urban Outfitters Inc. fell 5.6 percent, the most in the S&P 500, to $27.87. The operator of its namesake, Anthropologie and Free People brands reported fourth-quarter earnings that missed the average analyst estimate.
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