Retail sales increased 0.1% last month, compared to consensus estimates of a 0.2% decline. That's welcomed news for investors, who are bracing for what is likely to be the Fed's first interest rate cut at the conclusion of its meeting at 2 p.m. on Wednesday.

The widely followed U.S. stock benchmark was up 0.1%, after trading down earlier in the session, according to FactSet data, at last check. The S&P 500 joined the Dow Jones Industrial Average in the green,

Traders are betting on a big rate cut from the Federal Reserve when it wraps up its two-day meeting tomorrow in Washington.