US Markets
Strong earnings from International Business Machines (IBM) powered blue-chip stocks higher for the fourth-straight session, even as discouraging quarterly reports from other bellwethers kept the broader market flat. The Dow Jones Industrial Average rose 96.50 points, or 0.76%, to 12720.48, ending Friday at the session high. The Standard & Poor's 500-stock index turned positive in the final minutes of the trading session, gaining 0.88, or 0.07%, to 1315.38. The Nasdaq Composite slipped 1.63 points, or 0.06%, to 2786.70. Each measure finished with a third straight weekly gain. The Dow rose to a fresh six-month high, with IBM accounting for nearly two-thirds of the index's gains on Friday. The shares rose $8, or 4.4%, to $188.52 after the company's better-than-expected fourth-quarter earnings on Thursday.

IBM indicated that 2012 earnings would exceed forecasts. Microsoft (MSFT) advanced 1.59, or 5.7%, to 29.71 after the company late Thursday reported fiscal second-quarter earnings that beat expectations, with revenue in line. The company also lowered its operating expense outlook for 2012. Intel gained 75 cents, or 2.9%, to 26.38--a roughly four-year high--after the chip maker late Thursday topped fourth-quarter earnings and revenue forecasts, amid strength in the personal-computer business. The broad market has posted its best start to a new year in 15 years.

Google (GOOG) fell 53.58, or 8.4%, to 585.99, and was S&P 500's biggest laggard after reporting late Thursday fourth-quarter earnings and revenue that fell short of expectations. The average cost that advertisers paid Google per click declined from year-earlier levels. Despite Google's decline, technology stocks on the S&P 500 were one of three sectors in positive territory on Friday. SunTrust Banks (STI) bolstered the financial sector. Shares rose 1.05, or 5.2%, to 21.29, after the regional bank announced fourth-quarter earnings slipped 16%, but that credit costs continued to decline. Sears Holdings (SHLD) led the S&P 500 gainers as the retailer was said to be making the rounds to reassure its financing partners that it has the wherewithal and the desire to meet its obligations. Shares rose 5.65, or 13%, to 49. American Express (AXP) fell 91 cents, or 1.8%, to 50.04, after the company late Thursday beat earnings estimates but revenue fell short of expectations. Weakness in the credit-service industry spilled into Capital One Financial (COF). Shares slumped 2.74, or 5.6%, to 46.03, after the credit card-issuer-turned bank reported disappointing fourth-quarter earnings late Thursday as loan-loss provisions increased.

European Markets
Greece and its private-sector creditors seem to be nearing a deal on the country's debt. Basic resources are the biggest drag, with the Stoxx Europe 600 index for the sector down 0.7%. Despite the weaker finish Friday, traders note a shift for the better in overall sentiment. Monday is rather light on data, with euro-zone consumer confidence at 1500 GMT. The main focus is likely to be on a Eurogroup meeting in Brussels.

Asian Markets
Asian stocks climbed Friday, with financial stocks and exporters again leading the charge as eased worries about the euro-zone debt crisis and a higher finish on Wall Street provided a lift. Hong Kong's Hang Seng Index gained 0.9% to 20,111.84, ending above the 20,000-point level for the first time since Nov. 9, while Japan's Nikkei Stock Average added 1.5%. Both benchmarks rose for a fourth straight trading day. China's Shanghai Composite added 1.0%, South Korea's Kospi gained 1.8% and Australia's S&P/ASX 200 index edged up 0.6%.

Commodities
Base metals closed mostly lower the London Metal Exchange Friday, as a stronger dollar and a measure of profit-taking dented the week's impressive rally. At the close of open outcry trading, LME three-month copper was 1.7% lower at $8,219 a metric ton, well below the fresh four-month high at $8,428.50/ton it hit earlier in the session. A stronger dollar and opportunistic selling weighed on prices throughout most of the session, according to traders. Despite this, copper still closed the week a healthy 2.7% up on the previous Friday's PM kerb close. Nickel, which fared the best of the complex Friday, closed 1.3% higher on the day at $20,450/ton, up 4.3% on the week.

Crude futures slumped Friday, retreating from gains posted earlier in the week, on a weaker euro and hope for easing tensions between Iran and the West. Light, sweet crude for February delivery recently settled $1.93, lower at $98.46 a barrel on the New York Mercantile Exchange. The February contract expired at settlement, and the more heavily traded March contract settled $2.21, or 2.2%, lower at $98.33 a barrel. Brent crude on the ICE futures exchange traded $1.57 lower at $109.85 a barrel. Gold futures eased on Friday, as investors moved to the sidelines ahead of the weekend with Chinese buying expected to slow during a holiday there and investors cautious amid Greek debt negotiations. The most actively traded gold contract, for February delivery, recently fell $1.80, or 0.1%, to $1,652.70 a troy ounce on the Comex division of the New York Mercantile Exchange.