New York - QNA
US stocks finished mixed Friday, with the Nasdaq setting a new closing record, as investors digested corporate earnings reports as well as a batch of economic data.
The Dow Jones Industrial Average edged down 5.27 points, or 0.03%, to 19,885.73. The S&P 500 rose 4.20 points, or 0.18%, to 2,274.64. The Nasdaq Composite Index gained 26.63 points, or 0.48%, to 5,574.12. The fourth quarter earnings season kicked off Friday, with several financial giants reporting their numbers.
Shares of J.P. Morgan Chase & Co. added 0.53% to 86.70 US dollars apiece Friday after the US bank posted stronger than expected fourth-quarter results. The company reported quarterly net income of 6.7 billion US dollars, or 1.71 dollars per share, and full-year net income of 24.7 billion dollars, or 6.19 dollars per share.
Bank of America' s shares rose 0.39% to 23.01 dollars apiece after the company delivered quarterly profits above estimates but revenues shy of forecast.
On the economic front, the Producer Price Index (PPI) for final demand increased 0.3% in December, seasonally adjusted, the US Labor Department reported Friday.
US retail and food services sales for December rose 0.6% from the previous month to 469.1 billion dollars, seasonally adjusted, said the Commerce Department. For the week, the blue-chip Dow fell 0.4%, and the broader S&P 500 decreased 0.1%, while the Nasdaq climbed 1.0%.