Wall Street Closing

New York, Rabi’II 16, 1438, Jan 14, 2017, SPA — U.S. stocks were mostly higher Friday, with the Nasdaq index hitting another record high, as U.S. banks posted strong quarterly results and investors considered various economic reports.
J.P. Morgan Chase, Bank of America, and PNC Financial all reported better-than-expected profits, but only J.P. Morgan exceeded revenue estimates.
In U.S. economic news, retail sales jumped 0.6 percent in December, reflecting higher consumer confidence and pay increases. Wholesale prices rose 0.3 percent in December, led by more expensive gasoline, food, and vehicles. Business inventories rose 0.7 percent in November.
The U.S. dollar rose slightly against a basket of currencies. Gold prices fell from a seven-week high touched Thursday, as strong U.S. retail sales drove the dollar higher. Gold futures for February delivery fell $4.90 to $1,194.90 an ounce on the New York Mercantile Exchange, but the contract still posted a third consecutive weekly gain.
U.S. oil prices posted their first weekly loss in five weeks, with sentiment worsened by concerns over the economic health of China, the world’s second-biggest oil consumer. West Texas Intermediate (WTI) crude futures fell 64 cents, or 1.2 percent, to $52.37.
The Dow Jones industrial average was virtually unchanged, falling 5.27 to 19,885.73. Seventeen of the index’s 30 components fell, led by chemical maker DuPont, which lost 0.7 percent. The top gainer was Nike, which added 1 percent.
The broader Standard & Poor’s 500 index rose 4.20, or 0.2 percent, to 2,274.64. Financials rose 0.5 percent, and along with healthcare led five sectors higher. Utilities led six declining sectors.
The technology-heavy Nasdaq composite index rose 26.63, or 0.5 percent, to 5,574.12, its sixth record close so far in 2017. Shares of streaming movie leader Netflix jumped 3.6 percent, while electric carmaker Tesla gained 3.5 percent.
11:33 LOCAL TIME 08:33 GMT

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