U.S. stocks opened flat on Friday as investors digested a mixed batch of quarterly earnings out of a trio of major banks. The Dow Jones Industrial Average
fell 14 points, or 0.1%, to 21,536. The S&P 500
was up by less than 1 point to 2,448. The Nasdaq Composite Index
was up 13 points, or 0.2%, to 6,286. J.P. Morgan Chase & Co.
and Wells Fargo & Co.
all posted results on Friday, with the three topping expectations, although Citigroup’s results also indicated a slowdown in trading revenue. Shares of J.P. Morgan fell 2.6% while Citigroup lost 1.6% and Wells shed 2.4%. The Financial Select Sector SPDR ETF
was down 1.5%. For the week, the Dow is up 0.6% while the S&P is up 1% and the Nasdaq is up about 2.2%. In the latest economic data, the consumer price index was unchanged in June, while retail sales fell 0.2%.