US STOCKS-Lackluster data pulls Wall Street from record levels

viernes 12 de agosto de 2016 13:03 GYT

* U.S. retail sales growth flat, impacts dollar

* Oil prices rise nearly 2 pct, Exxon up 1.4 pct

* Indexes down: Dow 0.25 pct, S&P 0.13 pct, Nasdaq 0.09 pct (Updates to early afternoon)

By Yashaswini Swamynathan

Aug 12 (Reuters) - U.S. stocks were lower on Friday afternoon, a day after closing at record highs, as a set of tepid economic data dampened investor sentiment about the growth of the economy.

U.S. retail sales growth was unexpectedly flat in July as people cut back on buying clothes and other goods, while producer price index fell 0.4 percent in July, the biggest drop in nearly a year.

Cooling consumer spending and tame inflation suggest the Federal Reserve will probably not raise interest rates anytime soon despite a robust labor market.

"While I wouldn't read too much into any one data point, the data underscores that the Fed doesn't need to be aggressive about raising interest rates," said David Lefkowitz, senior equity strategist at UBS Wealth Management Americas.

Traders are now pricing in a 41.6 percent chance of a December rate hike, compared with 45 percent on Thursday, according to CME Group's FedWatch tool.   Continuación...