Mixed earnings reports kept stocks near the breakeven level on Friday, although Intel’s $13 billion plans clobbered its share price and the Nasdaq Friday’s release of mixed earnings reports kept investors in a “risk-off” mode, despite signs that a debt ceiling deal could materialize.  Intel’s quarterly report was basically in line with expectations, although it included an outrageous $13 billion capital outlay, going forward in a market with a rapidly declining demand for PCs (NASDAQ;INTC).  The news was not well-received and INTC was down as much as 7 percent during the session.  Capital One (NYSEARCA:COF) fell 8 percent after its pre-tax earnings came in at $500 million less than third quarter’s $1.7 billion.  The bad news offset positive reports from General Electric (NYSEARCA:GE) and Morgan Stanley (NYSEARCA:MS). As of 2:20 EST, the Dow Jones Industrial Average advanced 7 points (0.06 percent) to 13,603.  The S&P 500 Index crept upward by 0.01 percent to 1,481 (NYSEARCA:SPY).  As the chart (above) indicates, the S&P 500 continues to rise above its previous resistance level – its September 14 closing price of 1,465.77.  Its Relative Strength Index is 67.42 (Chart courtesy of  Stockcharts.com ).  The Nasdaq Composite declined 0.28 percent to 3,127 (NASDAQ:QQQ).  The Russell 2000 Index advanced 0.02 percent to 890 (NYSEARCA:IWM).   Friday’s Fantastic Finish – What Next? The “Dollar Bull” Index ETF (NYSEARCA:UUP) advanced 10 cents (0.46 percent) to 21.85 as of 1:57 EST. As of 1:46 EST, the S&P 500 Volatility Index – or VIX – declined 7.59 percent to 12.54 and the VIX Short-Term Futures ETN dropped 4.68 percent to 24.43 (NYSEARCA:VXX). The Euro STOXX 50 Index finished Friday’s session with a 0.34 percent decline to 2,709 – staying well above its 50-day moving average of 2,600.  The STOXX 50 continues to be experiencing resistance at the 2,700 level.  Its Relative Strength Index is 63.15 (NYSEARCA:FEZ).  The FTSE 100 Index rose 0.47 percent to 6,161 (NYSEARCA:EWU).  The German DAX Index fell 0.43 percent to 7,702 (NYSEARCA:EWG).  France’s CAC 40 Index dipped 0.07 percent to 3,741 (NYSEARCA:EWQ).  Spain’s IBEX 35 Index declined 0.25 percent to 8,607 (NYSEARCA:EWP).  Italy’s FTSE MIB Index advanced 0.21 percent to 17,551 (NYSEARCA:EWI).   Hong Kong ETFs to Surge in 2013? As of 1:42 EST, the euro declined 0.36 percent against the dollar, trading at $1.3328 (NYSEARCA:FXE). On London’s ICE Futures Europe Exchange, March futures for Brent crude oil advanced by 65 cents (0.59 percent) to $111.75/bbl. (NYSEARCA:BNO, NYSEARCA:USO).   Natural Gas Prices Extend Gains on Chilly Forecasts February Gold futures declined by $4.30 (0.25 percent) to $1,686.50 per ounce (NYSEARCA:GLD). ETF Summary:  SPDR Dow Jones Industrial Average ETF (NYSEARCA:DIA)  +0.06%  as investors feel more anxious about earnings reports after Intel and Capital One popped the balloon of optimism. SPDR EURO STOXX 50 ETF (NYSEARCA: FEZ )  -0.17%  after a lackluster trading session in Europe. Technology Select Sector SPDR ETF (NYSEARCA:XLK)   -0.37%  following the disappointing earnings report from Intel. iShares Barclays 20+ Year Treasury Bond Fund (NYSEARCA:TLT)  +0.58%  as anxiety about the debt ceiling battle subsides with more signs of cooperation coming from Capitol Hill Learn More About iShares ETFs SPDR S&P 500 INDEX ETF (NYSEARCA:SPY)  +0.10%  as investor enthusiasm is restrained after Intel and Capital One offset the good news from Morgan Stanley and General Electric. Bottom line:  Although investors were able to take a breather from the debt ceiling battle after signals of cooperation came from Capitol Hill on Friday, disappointing earnings reports from Intel and Capital One kept the anxiety level high enough to restrain any upside momentum for the major indices.  Sign up for Wall Street Sector Selector’s FREE Stock Market Timing Indicator!    Disclaimer: The content included herein is for educational and informational purposes only, and readers agree to Wall Street Sector Selector’s Disclaimer , Terms of Service , and Privacy Policy before accessing or using this or any other publication by Wall Street Sector Selector or Ridgeline Media Group, LLC.