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Friday the 13th not too scary for stocks

Friday, January 13, 2017 - 01:35

Stocks closed out Friday with minor gains after major banks reported results and retail sales rose in December. Jeanne Yurman reports.

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Friday the 13th wasn't too scary for the markets. The Dow was down fractionally. The S&P and Nasdaq finished with mild gains. For the week stocks closed mixed. The Dow and the S&P lost ground but the Nasdaq rose 1 percent. After a big run up in stocks in the past six weeks, there needs to be more clarity to move higher says Tim Anderson, managing Director at TJM Investments. TIMOTHY ANDERSON, MANAGING DIRECTOR, TJM INVESTMENTS (ENGLISH) SAYING: "Now what we really need to see is some more details n the tax reform plan, the infrastructure spending plan and exactly what regulatory relief might tae place and what the business community's reaction might be to that." Japanese auto parts maker Takata pled guilty to criminal wrongdoing and agreed to a billion dollar settlement with the U.S. government for its handling of faulty airbags. And a grand jury charged three Takata executives as part of a criminal investigation. Wells Fargo, Bank of America and JP Morgan Chase all reported quarterly profit results that beat forecasts. Lockheed Martin says it is close to forging a deal to cut the price of its F-35 aircraft. This after its CEO met with President-elect Trump. U.S. retail sales were up in December amid strong demand for autos and furniture. And prices at the wholesale level rose for a second straight month. In Europe, stocks moved higher helped by bank shares.

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