Wall Street ends lower, dragged down by tech, consumer stocks

US stock indices closed the fourth session of the week lower, with Phillip Morris, Apple dragging their respective sectors down, as the first-quarter earnings season progresses for major American banks and corporations. 

Federal Reserve Governor Lael Brainard spoke earlier today about regulatory reform at the Global Finance Forum, in Washington DC, where she noted that inflation rates remain stable with no sign of imbalance. 

Brainard cautioned from a new economic stage where assets and financial leverages rise, before earlier US data showed unemployment claims fell 1 thousand to 232 thousand from 233 thousand, above expectations of 230K. 

The Philly Manufacturing Index rose to 23.2 from 22.3 in March, beating expectations of 20.8, while Federal Reserve Governor Randal Quarles testified on supervision and regulation before the Senate Banking Committee, in Washington D, where he said cryptocurrencies don't represent threats to financial stability, while calling on small banks to come up with new rules to financial liquidity. 

Dow Jones fell 0.34%, or 83.18 points to 24,664.89, while Standard and Poor's 500 shed 0.57%, or 15.51 points to 2,693.13. NASDAQ Composite slid 0.78%, or 57.18 points to 7,238.06. 

Gold futures due on June 15 fell 0.39% to $1,348.20 an ounce from the opening of $1,353.50, while the dollar index rose 0.30% to 89.89 from the opening of 89.52, marking one-week highs. 

US West Texas Intermediate futures due on May 15 dipped 0.50% to $68.13 a barrel from the opening of $68.47, moving away from late November 2014 highs, while Brent futures due on June 15 rose 0.14% to $73.58 a barrel from the opening of $73.48.