Wall Street Seesaws: Earnings Season Kicks Off Amidst Market Volatility

U.S. stocks ended the week slightly down, overshadowed by a volatile earnings season and President Trump's proposal on capping credit card rates. Semiconductor shares gained, but banks and financials remained under pressure. Investors are wary ahead of significant earnings reports and the upcoming Martin Luther King Jr. holiday closure.

U.S. stocks closed the week nearly unchanged during a turbulent session as the fourth-quarter earnings season commenced. Despite the fluctuations, all major indexes reported losses for the week. Chipmakers saw gains, with semiconductors extending an upward trend from the previous day.

Big banks delivered mostly solid results, although concerns lingered over President Trump's suggested cap on credit card interest rates. The financial index saw a downturn for the week. Investors considered Trump's comments about keeping economic adviser Kevin Hassett, which affected market speculation on Federal Reserve leadership changes.

The earnings season accelerates next week, featuring reports from major companies like Netflix and Intel. Trading was cautious as the market anticipates the Martin Luther King Jr. holiday closure. Observers noted a usual January trend of choppy markets, with a shift towards undervalued stocks pointing to a positive outlook for the month ahead.

(With inputs from agencies.)