U.S. Stocks Open Flat Following Wells Fargo Earnings Report

<p>U.S. stocks opened flat on Friday (January 11), a day after the benchmark S&P 500 index closed at a five-year high, as record earnings from Wells Fargo failed to inspire further buying.<br /><br />Wells Fargo, the first major U.S. bank to post earnings this season, reported a higher fourth-quarter profit oas it set aside less money to cover bad loans and made more fees from mortgages.<br /><br />The Dow Jones industrial average dropped 14.16 points, or 0.11 percent, to 13,457.06. The Standard & Poor's 500 Index shed 0.51 points, or 0.03 percent, to 1,471.61. The Nasdaq Composite Index dipped 1.05 points, or 0.03 percent, to 3,120.71.</p>