Wall St turns lower on banking concerns

Shares of JPMorgan Chase & Co fell 1.6 percent to $32.47, making it a top drag on the KBW bank index <.BKX>, which was down 1 percent.

The results from stress tests of the 19 largest U.S. banks are expected to be released on May 7, a government source said Friday, and are expected to show how much capital the weakest firms will need to raise should the economy weaken further.

"There's some apprehension about the stress tests next week and the fact that (the results) were pushed back I think is more of a negative sign," said Michael James, a senior trader at Wedbush Morgan in Los Angeles.

Economic reports showed the U.S. factory sector shrank further in April but at a slower pace and consumers felt more confident about the economy last month than at any time since September.

Energy shares helped stocks to make gains in the afternoon. Exxon Mobil Corp was up 1.3 percent at $67.55, and the S&P energy index gained more than 2 percent after crude oil futures rose 3 percent to $52.90 a barrel.