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US stocks retreat from records on lackluster data

New York - Wall Street stocks retreated from records early on Friday following lackluster US retail sales and producer pricing data.

US retail sales in July came in at $457.7bn, essentially flat compared with the prior month and an indication of a pullback in consumer activity following strong gains in June.

US producer prices for the same month fell 0.4%, another indication of sluggish activity.

About 30 minutes into trade, the Dow Jones Industrial Average stood at 18 591.37, down 0.1%.

The broad-based S&P 500 shed 0.1% to 2 183.31, while the tech-rich Nasdaq Composite Index dropped 0.1% to 5 223.00.

All three major indices closed at records on Thursday for the first time since 1999.

Nordstrom rose 7.7% after reporting better-than-expected earnings and announcing a partnership with data-analysis firm Aimia to boost its customer loyalty programme.

Visual computing company Nvidia rose 2.3% after reporting a 24% rise in second-quarter sales to $1.4bn. It said growth remains strong in its key businesses, including gaming and automotive programmes.

Energy stocks were mostly higher on increased oil prices. Dow members ExxonMobil and Chevron rose, along with Halliburton, Marathon Oil and Devon Energy.

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