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AP National Business

Banks help lead stocks lower in early trading on Wall Street

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KMIZ

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Published 8:50 AM

By DAMIAN J. TROISE
AP Business Writer

Stocks edged lower in morning trading on Wall Street Friday, keeping the major indexes on course for their second weekly decline in a row. The S&P 500 fell 0.1%, the Dow Jones Industrial Average fell 0.5% and the Nasdaq rose 0.3%. Banks were the biggest weight on the market. JPMorgan Chase fell after reporting that its profits fell 14% in the latest quarter from a year earlier. Traders were also disappointed to see that retail sales sank 1.9% in December after Americans cut their spending in the face of product shortages, rising prices and the onset of the omicron variant.

Article Topic Follows: AP National Business

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