The major indices are taking a breather today.  Nasdaq is the laggard, down .88%, and many of the tech darlings see profit taking. Buyers have continued to emerge, however, and the Dow has reversed course after being down 180 points and is currently in the green.  The S&P 500 is nearing the flat line after being down 0.8% earlier.

The love of Bitcoin continues and is marching higher, up 6% to $51,460.

Energy is the best performing sector yet again.  WTI is continuing its move higher, up 1.5% to $60.95.  Technology is the laggard.

Retail Sales

The consumer was out spending the latest stimulus check.  Retail sales for January grew 5.3% blowing away the consensus for an increase of 1.2%.  Ex-autos, sales were up 5.9% versus expectations of 1.0%.  Sales were up across each category.

Other highlights month over month include:

• Department Stores +23.5%  from -3.7%
• Electronics +14.7% from -6.5%
• Furniture +12% from -0.7%
• E-commerce +11% from -7.3%
• Eating & drinking +6.9% from -4.6%
• Gas stations +4%  from +6.5%
• Food & Beverage +2.4% from -1.4%