All three major indexes suffered steep losses for the majority of today, weighed down mostly by a slew of disappointing earnings reports out of the banking sector. The Dow shed more than 200 points, as the largest U.S. bank in terms of assets, blue-chip JPMorgan Securities (JPM), dragged more than 6%. Worse-than-expected retail sales also rang heavy, the reading down 1.9% for December. Within the last hour of trading, the S&P 500 and Nasdaq managed to eke out slight gains. All three indexes fell for the week.

The Dow Jones Average (DJI - 35,911.81) shed 201.8 points or 0.6% for the day. Amgen (AMGN) led the gainers today, adding 2%, and JPM paced the laggards with a 6.1% fall. For the week, the Dow shed 0.9%.

The S&P 500 Index (SPX - 4,662.85) inched 3.8 points higher, or 0.08%, for the day. Meanwhile, the Nasdaq Composite (IXIC -14,893.75) rallied 86.9 points, or 0.6%, for today's session. On the week, both indexes fell 0.3%.

Lastly, the CBOE Volatility Index (VIX - 19.19) fell 1.1 points or 5.5% for the day. The VIX moved 2.3% higher for the week.

OIL, GOLD LOG NOTABLE WEEKLY WINS

Oil prices landed a fourth-straight weekly gain, tacking on 6.3%, as investors keep an eye on tensions in Russia and Ukraine impacting global supply. February-dated oil added $1.74 or 2.1%, to finish at $83.82 for the day.

Despite marking their fifth weekly close higher in six, gold futures settled the day lower. However, a decline in the U.S. dollar is what has sent the precious metal higher on the week. February-dated gold fell $4.90, or 0.3%, to close at $1,816.50 per ounce. On the week, gold rose 1.1%.