Stocks traded in a narrow range Thursday as investors sifted through several economic reports. July retail sales came in slightly better than estimates. More people filed for weekly jobless claims than had been expected. And even though import prices fell less than expected, they posted their biggest decline in six months. That’s because the cost of petroleum products and other goods fell, suggesting inflation could remain tame for a while. Meanwhile, crude oil prices slid to nearly a five month low in part because of strength in the dollar. Shares of Kohl’s (KSS) were under pressure after the retailer missed revenue and earnings estimates and warned that full year profits would be at the low end of its forecast.
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