US stocks close mixed amid trade tensions

US stocks close mixed amid trade tensions

New York: US stocks closed mixed as investors monitored the latest development of US-China trade conflicts.

The Dow Jones Industrial Average on Wednesday was down 45.16 points, or 0.18 per cent, to 25,583.75. The S&P 500 erased 0.075 point, or 0.03 per cent, to 2,857.70, Xinhua news agency reported.

The Nasdaq Composite Index increased 4.66 points, or 0.06 per cent, to 7,888.33.

The Chinese Ministry of Commerce announced on Wednesday a 25 per cent charge on $16 billion worth of US goods, including auto and crude oil.

The announcement came after the US government released a finalised list of $16 billion worth of Chinese goods that will be charged with higher tariffs.

This earnings season has been stronger than analysts had expected.

Second quarter earnings are expected to increase 23.5 per cent from the same period last year. Excluding the energy sector, the earnings growth estimate declines to 20.4 per cent.