Economic news

Review: U.S. stocks set to end holiday-shortened week in the red

Wall Street opened lower on Thursday after President Donald Trump said that the U.S. dollar was becoming too firm, while banks showed weak quarterly results.

The Dow Jones lost 0.24 percent, to 20,542.83, the S&P 500 edged down 0.24521 percent, to 2,339.18 and the Nasdaq composite retreated 0.16 percent, to 5,826.70.

Investors were focused on J.P. Morgan Chase & Co, Citigroup Inc. and Wells Fargo & Co. first-quarter profit reports. While the first two both beat analyst anticipations, supported by gains in their trading divisions, Wells Fargo’s reported a big drop in quarterly profits.

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