Stocks ended the week on a high note, as investors welcomed a batch of better-than-expected corporate results. The Dow finished at its highest level since October 2007, while the S&P 500 closed above the 1,500 mark for the first time since December 2007. New-home sales unexpectedly dropped in December, sliding 7.3% to an annual rate of 369,000. Procter & Gamble rose 4.0%, after the co. topped earnings expectations and raised its outlook for earnings and share repurchases in 2013. Halliburton jumped 5.1%, as the co. reported earnings that beat analysts' expectations, driven by strength in the company's international divisions. Apple lost 2.4%, after Goldman Sachs cut its price target by $100. Netflix rose 15.5%, extending gains after better-than-expected results for the fourth quarter. Juniper Networks traded up 5%, after the firm reported better-than-expected results. Of the 174 companies, or 29% of the S&P 500, that had reported earnings for the fourth quarter as of Thursday’s close, 68% reported earnings that beat consensus estimates, almost 14% were in line, and more than 18% missed. In the week ahead 122 of the S&P 500 scheduled to release results. Also, reports on housing and consumer sentiment are due. But reports on the nation's employment picture will take center stage, with nonfarm payrolls and first monthly employment report for 2013 on tap.
