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Wall Street edges higher after ECB statement, retail sales data


By Sruthi Shankar(Reuters) - U.S. stocks ticked higher on Thursday after the European Central Bank promised not to raise euro zone interest rates before the middle of next year and on better-than-expected May retail sales.The bank's statement came as a relief to investors, especially after the U.S. Federal Reserve raised rates for the second time this year on Wednesday and hinted at two more hikes by the end of 2018.ECB, however, said it would wind down its 2.55 trillion euro stimulus program by the close of the year.Shares of banks, which rely on higher interest rates to boost profits, took ...

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First Published: Thu, June 14 2018. 21:28 IST