Wall Street makes quick recovery

Strong data, earnings reports help US stocks erase most of Monday's losses.

United States stocks are solidly higher in late afternoon trade after having their worst day since September on Monday, with support coming in part from better-than-expected earnings at JPMorgan Chase and Wells Fargo.

Stocks were also boosted by news retail sales in the US had climbed 0.2 per cent in December, which was slightly above forecasts for a 0.1% lift.

At 0720 AEDT, the Dow Jones Industrial Average had climbed 102.59 points, or 0.63%, at 16,360.53.

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