Dow Closes Lower After Disappointing Bank Results

Dow Closes Lower After Disappointing Bank Results
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, on Jan. 12, 2022. Brendan McDermid/Reuters
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The Dow closed lower on Friday with a big drag from financial stocks as investors were disappointed by fourth quarter results from big U.S. banks, which cast a shadow over the earnings season kick-off.

The Nasdaq and the S&P regained lost ground in afternoon trading to close higher. Meanwhile the consumer discretionary stocks put pressure on the indexes throughout the session after morning data showed a December decline in retail sales and a souring of consumer sentiment.