January 18, 2013 at 16:59 PM EST
Higher Close On Upbeat Earnings
Despite an unexpected drop in consumer sentiment, the markets closed higher with the Dow gaining 53 points to 13,649 on upbeat earnings. Nasdaq eased a point to 3134.
On the upside
As part of its renovating and redesigning plan, Office Depot (NYSE: ODP) will open a smaller version of its retail store at North Hills in Raleigh, North Carolina.
State Street (NYSE: STT) reported higher fourth quarter earnings as revenue rose.
On the downside
Cincinnati Bell (NYSE: CBB) successfully spun-off its CyrusOne unit as an independently traded company. Wipro (NYSE: WIT) reported higher third quarter earnings and revenue but the stock price fell.
Analysts expect Amgen (Nasdaq: AMGN) to post higher earnings next week but the stock price dropped.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 10 to 9 on Nasdaq. The broader S&P 500 index rose 5 points to 1485.
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