India, Aug. 14 -- Stocks are likely to move to the downside in early trading on Thursday, giving back ground after moving mostly higher over the two previous sessions. The major index futures are currently pointing to a lower open for the markets, with the S&P 500 futures down by 0.5 percent.
The futures came under pressure 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 Labor Department said its producer price index for final demand shot up by 0.9 percent in July after coming in unchanged in June. Economists had expected producer prices to rise by 0.2 percent.
The report also showed a substantial acceleration by the annual rate of produ...