Markets dip after JPMorgan earns, retail sales

NEW YORK (Reuters) - U.S. stocks fell on Friday after retail sales rose less than expected and on a mixed reaction to JPMorgan Chase & Co's quarterly earnings, though the S&P was on track to notch a seventh straight week of gains.

JPMorgan reported a fourth-quarter profit that was stronger than expected, though it hasn't shaken off the residual costs of the financial crisis. The stock rose 1.1 percent to $44.89.

Sales at U.S. retailers rose slightly less than expected in December, but sales for all of 2010 reversed two years of contraction, posting the biggest gain in more than a decade, the government said. Separately, higher gas prices pushed overall December consumer prices up at their fastest pace in a year and a half.

The Dow Jones industrial average was down 19.68 points, or 0.17 percent, at 11,712.22. The Standard & Poor's 500 Index was down 0.42 points, or 0.03 percent, at 1,283.34. The Nasdaq Composite Index was down 3.03 points, or 0.11 percent, at 2,732.26.

Dow component Intel Corp fell 1.3 percent to $21.01 a day after it posted a better-than-expected quarterly profit and forecast strong revenue for the coming quarter. The stock advanced for most of the premarket session.

(Editing by Jeffrey Benkoe)