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U.S. stocks advanced
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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