Stocks rise modestly; S&P 500 scores 7th straight week of gains

Stocks rose modestly, boosted by strong corporate earnings from J.P. Morgan (NYSE: JPM) and Intel Corp. (Nasdaq: INTC), allowing the S&P 500 index to score its seventh consecutive week of gains.

The Dow Jones Industrial Average gained 55.48 points, or 0.47 percent, to finish at 11,787.38. The S&P 500 Index climbed 9.48 points, or 0.74 percent, to 1,293.24. The Nasdaq Composite rose 20.01 points, or 0.73 percent, to 2,755.30.

However, investor sentiment was limited by slightly weaker-than-expected December retail sales data as well as higher December consumer prices.

Semiconductor stocks rallied after Intel forecast strong chip sales for this year. The Philadelphia Semiconductor Index soared 2.68 percent.

Oil futures rose modestly, gold futures dropped almost 2 percent and bonds fell as the 10-year yield edged up to 3.33 percent.