Stocks drift lower, retail sales top estimates

Stocks dipped Wednesday after jumping a day earlier when an apparent deescalation of Russian advances in Ukraine helped boost U.S. equities. Investors also eyed a fresh print on the state of consumer spending in the Commerce Department’s latest retail sales report, which showed a larger-than-expected rebound in consumption at the start of the year.

The S&P 500 edged down. On Tuesday, the index closed higher by 1.6% in its first rise in four sessions. The jump came amid an announcement from…


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