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Stocks end with losses, but score weekly gains

U.S. fairness markets closed lower on Friday, led by a selloff in banking stocks, however the main indexes nonetheless posted weekly beneficial properties. The first-quarter earnings season kicked off with the releases from J.P.Morgan, Citigroup Inc. and Wells Fargo. But shares of banks fell sharply even because the profits were in line or above expectations. The Dow Jones Industrial Average DJIA, -0.50% fell 122.91 points, or 0.5%, to 24,360.14 however ended the week 1.8% upper. The S&P 500 index SPX, -0.29% declined 7.69 points, or 0.Three% to two,656.30 and booked a 2% weekly gain. Meanwhile the Nasdaq Composite COMP, -0.47% used to be down 33.60 points, or 0.5% to 7,106.65, however finished the week with a 2.8% gain. Among the worst performers on the S&P 500, Wells Fargo & Company WFC, -Three.43% fell Three.four% as revenues declined while JPMorgan JPM, -2.71% misplaced 2.7%.

Read the overall tale: Stock marketplace ends cast week on a bitter observe as bank shares hunch after earnings