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Wall Street closes flat for a second day

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US stocks have closed mixed with the Dow and S&P 500 essentially flat for the second straight day as fresh data releases failed to give any clearer picture of US economic growth.

Earnings news from retailers steered much of the action, with shares in office supply chain Staples plunging 14.6 per cent on its poor results and outlook.

At the closing bell, the blue-chip Dow Jones Industrial Average was down 7.36 points (0.06 per cent) to 13,164.78, while the broader S&P 500-stock index added 1.60 (0.11 per cent) to 1,405.53.

But the tech-heavy Nasdaq index got a boost from Amazon and Cisco to end a solid 13.95 points higher (0.46 per cent) to 3,030.93.

New data showed that inflation was flat, industrial production grew 0.6 per cent month-on-month in July, and new homebuilding activity had picked up in July.

But a key New York region manufacturing survey revealed an unexpected downturn in recent weeks, suggesting a more mixed picture of the economy overall.

Big box retailer Target’s shares were up 1.8 per cent as it reported earnings in line with expectations, while office supply chain Staples lost 14.6 per cent on its quarterly earnings disappointment and a lowered forecast for the rest of the year.

Abercrombie & Fitch, the youth-oriented clothing business, gained 9.0 per cent even as second quarter earnings sank 52 per cent. The company said it would continue to close stores while expanding its share buyback operation.

Barnes and Noble lost 5.8 per cent after announcing a price cut on its Nook reader, battling against an increasingly crowded and converging e-reader and tablet computer market.

Separately, tractor and heavy equipment maker Deere dropped 6.3 per cent after its 11 per cent earnings rise in the quarter missed analyst expectations and it warned that the US drought could influence coming business.

On the Nasdaq, Cisco rose 1.1 per cent, Amazon 1.8 per cent and Starbucks 3.6 per cent.

US bond prices fell sharply for a second straight day. The 10-year Treasury yield rose to 1.80 per cent from 1.73 per cent Tuesday, while the 30-year gained to 2.91 per cent from 2.83 per cent. Bond yields move inversely to prices.