Stocks little changed in choppy session as investors digested a handful of economic reports. China CPI fell to 1.8% in July, down from 2.2% in June, the lowest inflation rate in two-and-a-half years.Industrial production slowed to 9.2% from a year earlier in July, the slowest rate of growth since May 2009. Jobless claims fell 6,000 to 361,000 last week, well below 375,000 expected. The U.S. trade deficit narrowed 10.7% in June, from $48 billion the prior month. Wholesale inventories unexpectedly declined 0.2% in June, while experts were looking for a 0.3% increase. Tech stocks mostly closed in the green. Cisco Systems rose 3.15% after the company received more upbeat assessments from Goldman Sachs and Piper Jaffray. On the downside, NetApp fell 2.58% after Cantor Fitzgerald cut his rating on the company’s stock to hold from buy, following growing concerns about the company’s core enterprise business. In the evening trade Nvidia climbed 4.7%, extending regular session gains, on stronger-than-expected earnings and guidance. Meanwhile, Yahoo slid 4.4% after the co. announced that Marissa Mayer, its new CEO, is reviewing the company’s strategy, including its “planned capital-allocation strategy” and recent restructuring plan. Implied volatility decreased to 3-month low on light trading volumes.
