Here are five things you must know for Friday, Jan. 12:
1. -- Stocks Rise to Records
U.S. stock futures pointed to another record-setting session on Wall Street as investors readied for the first wave of fourth-quarter earnings reports on Friday, Jan. 12.
The Stoxx 600 benchmark, Europe's broadest measure of share prices, rose 0.11%, snapping a two-day losing streak as global markets rebounded following a 200-point rally on Wall Street on Thursday, Jan. 11. Gains were limited, however, by the euro's rise to a near three-year high of 1.2120 after reports indicated a breakthrough in talks to form a coalition government in Germany.
The Dow Jones Industrial Average, S&P 500 and Nasdaq all scored new record closes on Thursday, as Wall Street got a boost from some of its biggest industrial and energy names.
The Dow jumped 205 points, or 0.81%. The blue-chip index was led by Chevron Corp. (CVX) - Get Report , up 3%, Caterpillar Inc. (CAT) - Get Report , which gained 2%, and Boeing Co. (BA) - Get Report , up 2.4% .
The S&P 500 rose 0.70%, and the Nasdaq closed up 0.81%.
The economic calendar in the U.S. on Friday includes the Consumer Price Index for December at 8:30 a.m. ET, and Retail Sales for December at 8:30 a.m.
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2. -- Big Banks Kick Off Earnings Season
JPMorgan Chase & Co. (JPM) - Get Report posted fourth-quarter adjusted profit of $1.76 a share, higher than Wall Street forecasts that called for $1.69. The bank said it expects a negative earnings-per-share impact of 69 cents from new U.S. tax legislation. JPMorgan shares fell 1.2% in premarket trading.
Cramer said his charitable trust added JPMorgan Chase ahead of Friday's earnings report because the firm "is widely considered to be the world's best bank," and should enjoy "superior earnings growth" going forward.
3. -- AMD Says Chips Exposed to Spectre Flaw
Shares of Advanced Micro Devices Inc. (AMD) - Get Report fell 2.8% in premarket trading on Friday after the chipmaker said its microprocessors were susceptible to both variants of the Spectre security flaw.
AMD said several days ago there was a "near zero risk" that its chips were susceptible to the security flaw.
Intel Corp. (INTC) - Get Report , responding last week to a report that its chips contained a feature that could be vulnerable to hacking, said many types of processors were affected by the security flaw, and that it was working with AMD and SoftBank Group Corp.'s ARM Holdings and operating system vendors to address the issue. Remarks from an AMD engineer suggested his company's CPUs didn't possess the security flaw.
4. -- Sam's Club Closing Stores
Walmart Stores Inc. (WMT) - Get Report confirmed Thursday it was closing or converting 63 Sam's Club stores, hours after the world's largest retailer announced it would boost the starting salary for U.S. workers to $11 an hour and give long-time employees one-time cash bonuses of up to $1,000.
Walmart will book a charge of about 14 cents a share, mostly in the fourth quarter, from the store closings.
"We have taken a really hard look at the real estate portfolio and decided to exit clubs that cannot, or will not, be successful under our new strategy and in some cases -- historically have not been," Sam's Club CEO John Furner told TheStreet in an interview. "Some of the places we are exiting today have geographies with low population or geographies with more clubs than the market will support."
5. -- Fiat Chrysler to Move Ram Production to Michigan
The automaker said the move will add 2,500 jobs in Metro Detroit by 2020, when the plant retooling is completed.
Fiat Chrysler also said it plans to give its 60,000 hourly and salaried U.S. employees $2,000 bonuses following the U.S. corporate-tax overhaul.
This article has been updated from 6:08 a.m. ET.
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