Wall Street ends lower on weak earnings, trade worries

US stock indices closed the fourth session of the week lower after mostly disappointing earnings results for major American corporations and amid concerns of retaliatory EU actions if the US imposed tariffs on European cars. 

Stellar US Employment Data 

Earlier US data showed unemployment claims fell 8 thousand to 207 thousand from 215K, beating expectations of 220K, while continuing claims for the week ending July 7 rose 8 thousand to 1.751 million from 1.743 million, missing estimates of 1.729 million. 

The Philly Fed Manufacturing Index rose to 25.7 in July from 19.9 in June, beating estimates of 21.6, while the CB leading index rose 0.5% in June, beating estimates of 0.4%, and compared to May's no-change. 

White house trade councilor Peter Navarro asserted in earlier remarks that President Donald Trump's decisions are not destructive as some are painting it, noting that China is the only country hurting the US economy, while the US administration believes in free trade in a world that lacks it. 

President Donald Trump criticized the Federal Reserve in an interview with CNBC, saying he's "not thrilled" with rate hike decisions that lead to a stronger dollar, while China's yuan falls like a rock. 

He commended Fed Chair Jerome Powell as a "good man", adding he won't intervene into the Fed's actions, with the remarks overall weighing on the dollar on currency war concerns. 

Indices, Commodities 

Dow Jones fell 0.53%, or 134.79 points to 25,064.50, while Standard and Poor's 500 shed 0.40%, or 11.13 points to 2,804.49. NASDAQ Composite fell 0.37%, or 29.15 points to 7,825.30. 

Gold futures due on August 15 fell 0.45% to $1,222.40 an ounce from the opening of $1,227.90, marking July 11, 2017 lows, while the dollar index rose 0.12% to 95.20 from the opening of 95.08, marking year highs. 

US crude futures due on August 15 rose 0.79% to $69.30 a barrel from the opening of $68.76, while Brent futures due on September 15 fell 0.53% to $72.51 a barrel from the opening of $72.90.