Summary: U.S. stocks inched higher on Friday, even as retail sales rose less than expected. December retail sales rose 0.6% month over month, missing estimates of 0.7%. Sales on motor vehicles rose 2.4%, while sales at nonstore retailers rose 1.3%. JPMorgan Chase posted fourth quarter earnings of $1.71 a share, beating estimates of $1.44. Revenue of $24.3 billion, also topped estimates of $23.95 billion. Fixed income trading revenue surged 31% amid market volatility following Donald Trump's presidential victory in November. Wells Fargo reported disappointing fourth quarter results. Earnings of $0.96 a share missed estimates of $1. Revenue of $21.58 billion fell short of estimates of $22.45 billion. The company's new CEO Tim Sloan said the bank continued to rebuild customer trust following its fake bank account scandal. TheStreet's Scott Gamm reports from Wall Street.
