Wall Street closed higher while the dollar gained after strong economic data
Traders work on the floor of the New York Stock Exchange (NYSE) on Feb. 14 in New York City. AFP-Yonhap
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 percent last month, the largest increase since March 2021, after declining by an unrevised 1.1 percent in December.
Paired with Tuesday’s data showing a monthly inflation pick-up in January, evidence of an…
