NEW YORK, Aug. 8 (Xinhua) -- U.S. stocks closed mixed on Wednesday as investors monitored the latest development of U.S.-China trade conflicts.
The Dow Jones Industrial Average was down 45.16 points, or 0.18 percent, to 25,583.75. The S&P 500 erased 0.075 point, or 0.03 percent, to 2,857.70. The Nasdaq Composite Index increased 4.66 points, or 0.06 percent, to 7,888.33.
The Chinese Ministry of Commerce announced on Wednesday a 25 percent charge on 16 billion U.S. dollars worth of U.S. goods, including auto and crude oil. The announcement came after the U.S. government released a finalized list of 16 billion dollars worth of Chinese goods that will be charged with higher tariffs.
On the earnings front, CVS Health topped Wall Street's second-quarter earnings and revenue estimates. The company reported Wednesday quarterly adjusted earnings of 1.69 dollars per share and revenue of 46.7 billion dollars.
Shares of Disney declined 2.21 percent after the entertainment giant reported quarterly results that missed analysts' expectations. Excluding certain items affecting comparability, its earnings per share for the quarter reached 1.87 dollars, and its revenue stood at 15.23 billion dollars, both lower than forecast.
This earnings season has been stronger than analysts had expected.
Second quarter earnings are expected to increase 23.5 percent from the same period last year. Excluding the energy sector, the earnings growth estimate declines to 20.4 percent, according to Thomson Reuters. Enditem
