Wall Street ends lower on tax reform concerns

US stock indices closed the last session of the week lower, amid concerns about tax reform discussions in the Senate, and following earlier housing data from the US.

Earlier US data showed housing starts surged 13.7% in October to 1.290 million units, compared to a 3.2% decline in September to 1.135 million, while analysts expected a 5.6% rise to 1.190 million.

Building permits rose 5.9% to 1.297 million units, compared to a 3.7% drop in September to 1.225 million, beating expectations of a 2.0% rise to 1.250M. 

On Thursday, the House of Representatives passed the tax reform bill by a 227-205 margin, shifting the legislative final struggle to the Senate, amid concerns the upper house could delay the reforms supported by president Donald Trump, which would cut the corporate tax rate to 20% from 35%, until 2019. 

Dow Jones lost 0.43%, or 100.12 points to 23,358.24, while Standard and Poor's 500 declined 0.26%, or 6.79 points to 2,578.85, as NASDAQ Composite dipped 0.15%, or 10.50 points to 6,782.79. 

Gold futures due on December 16 rose 1.35% to $1,295.40 an ounce from the opening of $1,278.20, marking the highest since October 16, while the dollar index fell 0.33% to 93.62 from the opening of 93.93. 

Otherwise, US West Texas Intermediate surged 2.74% to $56.65 a barrel from the opening of $55.14, while Brent futures due on January 15 powered up 2.31% to $62.78 a barrel from the opening of $61.36.