From Nasdaq:

U.S. stocks closed barely changed on Friday, as mixed bank earnings offset cooler-than-expected inflation news. Data showed U.S. producer prices unexpectedly fell in December, increasing expectations for a March rate cut by the Fed to 79.5%. The PPI provides the Fed with room to cut rates, pushing Treasury yields lower.

For the week, the Dow gained 0.34%, the S&P 500 rose 1.84% and the Nasdaq climbed 3.09%. Bank of America fell 1.06% due to a shrunken fourth-quarter profit, while Wells Fargo’s warning of a 7% to 9% net interest income drop sent shares down 3.34%. Citigroup rose 1.04%, JPMorgan Chase edged 0.73% lower, and Delta Air Lines tumbled 8.97%.

Tesla lost 3.67% after trimming China model prices and planning to suspend car production near Berlin. Treasury yields fell following the release of data that showed U.S. producer prices fell unexpectedly in December, raising expectations for a March rate cut by the Fed to 79.5%. The PPI provides the Fed with room to cut rates, pushing Treasury yields lower.

Advancing issues outnumbered decliners by a 1.4-to-1 ratio on the NYSE, while on Nasdaq, decliners outpaced advancers by a 1.1-to-1 ratio. The S&P index recorded 37 new 52-week highs and no new lows, while the Nasdaq recorded 134 new highs and 86 new lows. Volume on U.S. exchanges was 10.57 billion shares, compared with the 12.06 billion average for the full session over the last 20 trading days.



Read more: US STOCKS-Stocks end little changed as earnings offset inflation data