Indices closed out Friday’s session slightly in red territory. Brands rebounded from earlier low levels to land marginally below the flat line. Stocks traded lower on a variety of economic data. Consumer confidence is down so far this month. In a preliminary reading, the University of Michigan’s consumer sentiment index hit 72.3 for April, down from 78.6 in the final reading for March and below the 78.5 expected by economists. Meanwhile, retail sales dipped in March. Commerce Department data showed that sales slipped by 0.4%, compared to February levels, to $418.3 billion. In earnings action, financials JPMorgan Chase and Wells Fargo pressured the major averages, following the release of less-than-stellar, first-quarter results for both companies.
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