US stocks have narrowed early losses but ended lower overall after central banks in China and Europe acted to boost growth but US data did not set a clear path for the Federal Reserve to follow suit.

At the close on Thursday the Dow Jones Industrial Average was down 47.15 points, or 0.36 per cent, to 12,896.67.

The S&P 500-stock index lost 6.43 points, or 0.47 per cent, to 1,367.59.

The tech-rich Nasdaq added a bare 0.04 points to 2,976.12.

Stocks rose on Tuesday – markets were closed Wednesday for the Fourth of July holiday – in anticipation that the European Central Bank would cut interest rates and the Bank of England would boost stimulus efforts in bids to turn around European economic growth.

The Bank of China came in with a surprise rate cut, responding to weakening growth.

“These actions are all related to disappointing economic conditions that might otherwise be producing downward pressure on prices,” said Dick Green of Briefing.com.