Stocks were searching for direction Thursday amid lots of cross currents. By the close, the Dow Industrials added about five, the S&P 500 gave back roughly two and the Nasdaq lost about 10. Oil prices fell to their lowest level in six and a-half years, at one point dropping below $42 a barrel, before settling more than a dollar lower at $42.23. Pressuring oil — reports of a build-up in oil inventories at the Cushing, Oklahoma delivery point. Weakness in oil prices pulled some energy shares lower. Chevron (CVX), Conoco Phillips (COP) and Halliburton (HAL) all lost ground. Another focus: China. Even though China’s central bank defended recent moves to devalue the yuan, officials also said the yuan will eventually rebound from its recent fall.
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