Weak start for stocks on Wall Street; banks slide

Indexes open lower on Wall Street after a four-day rise; bank stocks are weakest

Associated Press
A weak start on Wall Street; energy stocks slide
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FILE - A board on the floor of the New York Stock Exchange in this March 28, 2013 file photo shows the closing number for the S&P 500 index. World stock markets fell Friday April 12, 2013 as investors turned cautious and took profits from recent rallies in spite of evidence pointing to an improving U.S. employment picture. (AP Photo/Richard Drew, File)

NEW YORK (AP) -- The stock market is heading lower in early trading after a four-day rise as bank shares weaken.

Wells Fargo and JPMorgan fell after reporting revenue that was lower than analysts were expecting. JPMorgan and Bank of America led the Dow Jones industrial average lower shortly after the opening bell Friday.

The Dow was down 18 points at 14,848, a loss of 0.1 percent. It had gained 300 points over the previous four days.

The Standard & Poor's 500 was down four points, or 0.3 percent, to 1,588. The Nasdaq composite was down six points, or 0.2 percent, at 3,293.

M&T Bank slumped after saying it would need to delay its merger with Hudson City Bancorp after the Federal Reserve raised concerns about its compliance with bank secrecy and money-laundering rules.

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