US stocks mostly stalled on Thursday as Wall Street digested a much hotter-than-expected PPI inflation print, souring optimism around a large September rate cut. July's Producer Price Index (PPI) came in well above expectations,

Stocks were higher late Thursday, back on record ground, despite a hotter-than-expected reading on July PPI.

The Nasdaq Composite lost 22.69 points, or 0.10%, to 21,690.45. Rate-sensitive small-caps and housing stocks also dropped more than 1% each.