India, Aug. 14 -- After recovering from an early move to the downside, stocks showed a lack of direction over the course of the trading session on Thursday. The major averages spent the day bouncing back and forth across the unchanged line before eventually closing narrowly mixed.
While the S&P 500 crept up 1.96 points or less than a tenth of a percent to a new record closing high of 6,468.54, the Nasdaq edged down 2.47 points or less than a tenth of a percent to 21,710.67 and the Dow slipped 11.01 points or less than a tenth of a percent to 44,911.26.
The early weakness on Wall Street came following the release of a Labor Department report showing producer prices in the U.S. increased by much more than expected in the month of July.
The...