Stocks Moving To The Upside But Remain Negative - U.S. Commentary

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Stocks are moving to the upside in early afternoon trading on Tuesday, although they remain mostly lower following the release of a key government report on retail sales. Higher oil prices and negative analyst comments on the financial sector have kept the markets in the red.

Earlier, the Department of Commerce released its report on retail sales in the month of April, showing that sales decreased in line with economist estimates while sales excluding autos increased much more than economists had been expected.

While the retail sales data excluding auto sales came in higher than expected, the lack of big-ticket purchases have raised concerns over the impact of lighter consumer spending. Investors watch consumer spending closely, as it makes up about two-thirds of economic activity.