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Hi. I'm Kristin Bianco. Welcome to the 'Weekly Market Wrap' for February 1, 2013.

The Dow Jones Industrial Average, the S&P 500, and the Nasdaq were all higher this week.

Crude oil futures are higher this week, trading around $97.75 per barrel on Friday afternoon.

Gold futures are slightly higher this week, trading at $1669.30 an ounce in afternoon trading.

In notable economic news this week, Initial jobless claims increased by 38,000 to a seasonally adjusted 368,000 last week according to the Labor Department, the highest level in one month and the biggest increase since the week after Hurricane Sandy. Economists expected claims to climb to 355,000. Initial claims from two weeks ago stood unrevised at 330,000.

In corporate news this week, JetBlue Airways (JBLU) announced that it earned $1 million during the fourth quarter, amid costs rising twice as fast as revenue, and Hurricane Sandy reducing sales. On a per share basis, the company broke even, while it earned $23 million, or 8 cents pre share in the same period last year. Revenue increased by four percent to $1.19 billion from $1.15 billion in the same period last year. The company did meet meet expectations on both counts, with analysts expecting a profit of 2 cents per share on revenue of $1.2 billion.

Boeing (BA) announced that it earned $1.28 per share in the most recent fiscal quarter, down from $1.83 per share in the same period last year. Revenue increased to $22.38 billion from $19.56 billion in the same period last year. Analysts had expected earnings of $1.19 per share on revenue of $22.36 billion.

Ongoing issues with the new Dreamliner airplane model will likely have a negative impact on earnings during 2013.

Amazon.com (AMZN) announced that it earned $97 million, or 21 cents per share, during the fourth quarter, versus $177 million, or 38 cents per share, during the same period last year. Revenue increased by 22 percent to $21.27 billion during the quarter, from $17.43 billion in the same period last year. Analysts had expected earnings of 28 cents per share on $22.26 billion in revenue.

MasterCard (MA) announced that it earned $605 million, or $4.86 per share, during its most recent fiscal quarter, up from $19 million, or 15 cents per share, in the same period last year. Revenue increased by ten percent to $1.9 billion, the fastest it has grown in three quarters. Analysts expected the company to earn $4.81 per share on revenue of $1.89 billion.

Chevron Corporation (CVX) today reported earnings of $7.2 billion, or $3.70 per share, for the fourth quarter of 2012, versus $5.1 billion, or $2.58 per share in the 2011 fourth quarter. Results in the 2012 period included a gain of $1.4 billion from an upstream asset exchange. Full-year 2012 earnings were $26.2 billion, down 3 percent from $26.9 billion in 2011. Sales and other operating revenues in the fourth quarter 2012 were $56 billion, down from $58 billion in the year-ago period, mainly due to lower crude oil volumes.

This is the 'Weekly Market Wrap' for Friday February 1, 2013. Please join us on Monday for the 'Week Ahead Market Report.

For MarketNewsVideo.com, I'm Kristin Bianco.