Stocks Slide Into Negative Territory In Early Trading

Stocks have moved mostly lower in early trading on Tuesday despite the release of an upbeat report on U.S. retail sales. The major averages have all moved to the downside after ending the previous session on opposite sides of the unchanged line.

The major averages have climbed off their lows for the young session but remain in the red. The Dow is down 28.07 points or 0.2 percent at 13,479.25, the Nasdaq is down 20.75 points or 0.7 percent at 3,096.75 and the S&P 500 is down 4.76 points or 0.3 percent at 1,465.92.

The weakness on Wall Street comes as worries about renewed gridlock in Washington regarding the debt ceiling has overshadowed a Commerce Department report showing stronger than expected retail sales growth.

The report showed that retail sales rose by 0.5 percent in December following a revised 0.4 percent increase in November. Economists had expected sales to edge up by 0.2 percent compared to the 0.3 percent growth originally reported for the previous month. Continue reading "Stocks Slide Into Negative Territory In Early Trading"