(As of 7:20 am PST)
US equities are up at the start of Tuesday's trade, recovering from yesterday's selloff that saw the Dow Jones Industrial Average shed 179 points, the worst trading day since September. An upbeat retail sales report for December sent markets higher at the start. A closer look however, has some analysts and growth forecasters worried. Retail sales rose 0.2% in Dec. beating expectations. Excluding lackluster auto sales results, retail sales would have been up 0.7%. Downward revisions to October and November sales tempered the overall quarter and sent annual growth lower. 2013 was the worst year for retailers since 2009. In company news, shares of Intel are up 2% on an analyst upgrade as big banks JP Morgan and Wells Fargo reported mixed earnings results. Interest rates are ticking up as treasuries declined on the positive trade. Gold is flat and oil higher. International markets are lower with Asian markets following yesterday's selloff in US markets. 2014 is off to a slow start as the taper and last weeks disappointing jobs report weigh on investor minds. Expect market direction to firm up as earnings season picks up.
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