US markets dip as trade gap widens and oil price rises

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(Close): Wall Street closed lower after trade figures show the US deficit jumped sharply in March, suggesting weaker economic growth, and the price of oil hit a 2015 high.

The deficit, at $51.4bn, was at its highest in more than six years.

The Dow Jones shed 142.20 points to close at 17,928.20, while the S&P 500 dipped 25.03 points to 2,089.46.

The technology-heavy Nasdaq index fell 77.60 points to finish at 4,939.33.

The price of the benchmark Brent crude index rose 1.5% to $67.47 per barrel, and the price of US oil - known as West Texas Intermediate Crude - rose 2.5% to $60.40 per barrel, a 2015 high.

Company moves

Disney dipped 0.2% despite quarterly earnings coming in above estimates.

Cosmetics giant Estee Lauder roes over 4% after it reported better-than-expected profits.

Tesla Motors shares rose 1.1% after a broker upgrade.

Shares in closed up 1.6%, after spiking more than 5% amidst rumours that the firm was in talks to be bought by Microsoft.