"Big Banks' Earnings Boost Stock Market, S&P 500 Ends Down but Weekly Gains Remain"

The S&P 500 ended slightly lower as bank and financial shares declined following quarterly reports, but all three major U.S. stock indexes still posted solid weekly gains. JPMorgan Chase and Wells Fargo reported higher profits but set aside more money for expected losses from commercial real estate loans. The energy sector and financials were the biggest drags on the benchmark index, while UnitedHealth Group's stronger-than-expected results boosted the Dow. Analysts expect S&P 500 earnings to have declined 8.1% in the second quarter, but the majority of companies tend to beat expectations.