The Dow Jones Industrial Average was flat Friday as investors assessed corporate earnings that came in stronger than expected, as well as a weak retail sales report.
The 30-stock index tumbled 151.38 points to open Friday at 33,878.31.
The S&P 500 dipped 2.82 points to 4,143.40.
The NASDAQ fell 18.37 points to 12,147.90.
Major banks reported better-than-expected results in their first earnings season since the collapse of Silicon Valley Bank and Signature Bank last month. JPMorgan Chase reported record revenue that beat analyst expectations, with the stock rising more than 5%. Wells Fargo shares advances 0.6% after reporting growing profits.
UnitedHealth, which has the biggest weighting in the Dow, was flat after the firm posted better-than-expected results, and slightly raised its guidance.
Elsewhere, Boeing fell 5.6% after the aircraft maker warned of delivery delays for some of its 737 Max planes.
Expectations for this earnings season are downbeat. Analysts polled by Refinitiv expect S&P 500 earnings fell more than 5% in the first quarter. That forecast comes as companies deal with persistent inflation and higher rates.
Advanced retail sales data showed consumer spending fell twice as much as expected in March. Retail sales declined by 1% last month as consumers dealt with growing recession fears, more than the 0.5% fall expected by economists polled by Dow Jones.
Prices for the 10-year Treasury stepped back, raising yields to 3.5% from Thursday's 3.45%. Treasury prices and yields move in opposite directions.
Oil prices grabbed 90 cents to $83.06 U.S. a barrel.
Gold prices slipped $19.70 to $2,035.60 U.S. an ounce.