The average temperature in January was the lowest since 1988. U.S. retail sales dropped sharply. U.S. retail sales dropped sharply last month, in part because cold weather kept more Americans indoors,

U.S. retail sales fell more than expected in January, dropping a seasonally adjusted 0.9% from December to $723.9 billion, the Commerce Department said. Economists surveyed by The Wall Street Journal had expected a drop of 0.

The advance report for retail sales plummeted by 0.9 percent for January, offset only modestly by upward revisions to prior months. Read more here.