Indices closed in the red zone on Friday. JPMorgan Chase, Bank of America and Intel led decliners. Brands took a breather amid news of credit downgrades for France, Italy and Spain. Meanwhile, earnings for JPMorgan Chase failed to impress. Fourth-quarter net income hit $3.7 billion or 90 cents per share, down from $4.83 billion or $1.13, a year ago. On the horizon, data on housing and earnings from the likes of Citigroup, Bank of America and Goldman Sachs are due for release next week.
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