Stock Market Update

[BRIEFING.COM] The S&P 500 (-1.4%), Nasdaq Composite (-1.7%), and DJIA (-1.1%) are ticking lower toward their worst levels of the session shortly before the close. 

Consumer credit increased by $8.1 billion in January (Briefing.com consensus: $9.9 billion) following an upwardly revised $25.2 billion increase (from $24.0 billion) in December.

The key takeaway from the report is that the credit expansion was modest but fairly balanced in January, with revolving and nonrevolving credit both increasing for the month.