U.S. stocks closed higher Friday, as the Dow and S&P 500 finished the week at their highest levels since December 2007. In U.S. economic news, the University of Michigan's consumer sentiment index fell to 71.3 in January from 72.9 the previous month. In international economic news, China's economy grew at a stronger-than-expected annual rate of 7.9 percent in the final three months of 2012. In corporate news, Intel weighed on all three indexes, particularly the Nasdaq, after the chipmaker reported that quarterly profits fell 27 percent from a year earlier. Capital One was among the biggest losers on the S&P 500, as its shares fell more than 7 percent because the bank reported earnings that fell short of forecasts. General Electric rose 3.5 percent after the company issued an upbeat outlook and reported better-than-expected earnings and revenue. Morgan Stanley was also a big winner, with shares rising nearly 8 percent after the bank reported earnings that narrowly beat expectations. The dollar gained versus the euro, the pound, and the yen. Light sweet crude oil for February delivery rose 7 cents to $95.56 on the New York Mercantile Exchange. Gold futures dropped $3.80 to $1,687.00. The Dow Jones industrial average rose 53.68, or 0.39 percent, to 13,649.70. The broader Standard & Poor's 500 index gained 5.04, or 0.34 percent, to 1,485.98. The technology-heavy Nasdaq composite index fell 1.29, or 0.04 percent, to 3,134.71.
