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U.S. Stocks Rebound, Gold Sees Pullback

2/12/16 9:54 AM EST
U.S. markets opened in the green on Friday despite a selloff in Asia and Europe overnight. Markets in the U.S. will be closed for the President's Day holiday on Monday. On the economic front, the January Retail Sales report showed a rebound, climbing 0.2%, core retail sales, which exclude gas and autos, jumped 0.6%. December's numbers were revised higher to reflect a gain, versus a decline. The prices of gold moved slightly lower on Friday after it surged to a one-year high on market uncertainty. Traders said fears about financial stability and a slump in bank shares on both sides of the Atlantic have been the catalysts for the surge in prices. And, in corporate news, JPMorgan CEO Jamie Dimon is putting his money where his mouth is by picking up 500,000 shares of his company for roughly $26 million of his own money. It is Dimon's biggest open market purchase in four years. Dimon's last big purchase was after the London Whale trading scandal. Shares of JPMorgan are down about 20% year to date. TheStreet's Joya Dass reports from the Nasdaq Marketsite.
Stocks in this video: JPM
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