By  on February 19, 2010

U.S. retail stocks recorded their fifth consecutive positive trading session Thursday amid indications of at least a modest economic turnaround.

Just after trading closed in New York, the Federal Reserve raised the discount rate banks pay on short-term loans to 0.75 percent from 0.50 percent, effective today, a move intended to steer borrowers toward the private markets following the Fed’s unprecedented efforts to keep credit flowing and bolster the economy.

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