Reuters - Video

EDITION: U.S. | U.K. | IN

Top News

Wall St. digs into Wells, more coming

Friday, January 11, 2013 - 01:57

Jan. 11 - Summary of business headlines: Stocks stuck near five-year high as Wells Fargo sparks sector-wide earnings jitters; U.S. opens Dreamliner 787 safety probe; Best Buy bests holiday forecasts. Conway G. Gittens reports.

▲ Hide Transcript

View Transcript

Investors decide not to put any big money to work as earnings season gets ready to shift into high gear. The Dow and the Nasdaq crept higher, while the S&P 500 strayed little from its five-year high. Blue chips gained 0.4 percent this week and the Nasdaq gained 0.8. Profits at Wells Fargo hit a record high, but the mortgage giant is making fewer home loans. Results from the nation's fourth largest bank and the nation's biggest home lender - indicate banks are still under pressure to find new revenues. Shares of Wells Fargo dropped. Morgan Stanley, Goldman Sachs, Bank of America and Citigroup - report this coming week - those stocks down as well. Also down: Boeing. More safety incidents - including a cracked cockpit window on Friday. The U.S. Department of Transportation and the Federal Aviation Administration will review the Dreamliner 787 aircraft, says Transportation Secretary Ray LaHood. He's concerned, but confident. SOUNDBITE: U.S. TRANSPORTATION SECRETARY RAY LAHOOD (ENGLISH) SAYING: "I believe this plane is safe and I would have absolutely no reservation of boarding one of these planes and taking a flight. These planes are safe." Shares of Boeing - down for the day and down 3-1/4 percent for the week. The holiday shopping season was not as bad as feared at Best Buy, at least for its U.S. stores, and sales online surged 10 percent. What's hot: tablets, e-readers and mobile phones. What's not: TVs and traditional computers. By the way, the personal computer industry suffered its first drop in holiday sales in five years. That data comes by way of industry tracker IDC. Nevertheless, Best Buy investors sense a turnaround, sending shares of the retailer up more than 16 percent. Finishing up with Europe, concerns about the global economy put stocks in neutral.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Wall St. digs into Wells, more coming

Friday, January 11, 2013 - 01:57

Editors' Picks »

Most Popular »

Business »

Moving Pictures »

Dance of the northern lights Dance of the northern lights

Mon, 20 Oct, 2014 - (1:08)

Images of September Images of September

Thu, 02 Oct, 2014 - (1:00)

Still missing – MH370 Still missing – MH370

Fri, 05 Sep, 2014 - (2:05)

Burning Together Burning Together

Mon, 01 Sep, 2014 - (2:23)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, 22 Aug, 2014 - (3:12)

Images of August Images of August

Fri, 29 Aug, 2014 - (1:00)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, 11 Aug, 2014 - (2:27)

Burned memories Burned memories

Fri, 08 Aug, 2014 - (3:02)

Images of July Images of July

Fri, 01 Aug, 2014 - (1:20)

Oddly Enough »

Black bear cub goes Sunday shopping Black bear cub goes Sunday shopping

Thu, 23 Oct, 2014 - (0:27)

Christie's opens new Shanghai office Christie's opens new Shanghai office

Wed, 22 Oct, 2014 - (1:13)

White lion cubs unveiled to the public White lion cubs unveiled to the public

Tue, 21 Oct, 2014 - (1:01)

Ebola Halloween getup stirs controversy Ebola Halloween getup stirs controversy

Tue, 21 Oct, 2014 - (1:14)

Cuddly Ebola toy almost wiped out Cuddly Ebola toy almost wiped out

Mon, 20 Oct, 2014 - (0:34)

New MoMA exhibit cut out for Matisse New MoMA exhibit cut out for Matisse

Thu, 16 Oct, 2014 - (1:28)

London's Frieze art fair tests your senses London's Frieze art fair tests your senses

Thu, 16 Oct, 2014 - (1:28)

Paris streets become gallery for Plato-inspired sculptures Paris streets become gallery for...

Wed, 15 Oct, 2014 - (1:21)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, 19 Feb, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, 10 Jan, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, 29 Aug, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, 29 Aug, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, 05 Aug, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, 17 Dec, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sun, 09 Dec, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Mon, 10 Dec, 2012 - (10:39)