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Retail Sales Turned Cold In Feb.
1Retailers' same-store sales rose just 3.1% vs. a year earlier after Jan.'s 4.9% jump. Chains blamed tough comparisons and wintery weather after a hot Jan. lifted sales that month. Apparel chains were notably weak -- and investors let them know it. Department stores did well, though. Wal-Mart and Target also did OK, but the discounters see sluggish gains in March. More on this page
Oil Tops $63 On Supply Threats
2April crude rose $1.39 to $63.36 a barrel, the highest since Feb. 9, as the geopolitical risk premium rose on concerns about Nigeria, Iran and elsewhere. April gasoline jumped 7.01 cents to $1.6925 a gallon on Thurs., also the highest since Feb. 9. Pushed by petroleum, natgas futures edged up after hitting a 9-month low. More on B14
ECB Ups Rates; U.S. Yields Jump
3As expected, the European Central Bank raised its key rate a quarter-point to 2.5%. That spurred a global bond sell-off, especially on the long end, making the curve less inverted. The 10-year Treasury yield rose 5 basis points to 4.64%, the most since Nov. The 30-year yield rose 9 basis points to 4.65%. The 3-month yield, closely tied to Fed moves, edged up to 4.61%. More on B15
Major Stock Indexes Ease A Bit