Stocks were lower Thursday, easing back from record highs, as investors grappled with a hotter-than-expected reading on July PPI.

Wall Street's main indexes declined on Thursday, Aug. 14, after a higher-than-expected producer prices report dampened investor expectations of potential interest-rate cuts by the US Federal Reserve.A Labor Department report showed the producer price index rose 3.

The benchmark S&P 500 and Nasdaq hovered near record highs on Wednesday, but the market reflected weakness in some technology stocks after the previous day's strong gains on hopes that the Federal Reserve was getting close to a monetary easing cycle.

S&P 500 futures are up 0.02% . Dow Jones Industrial Average futures are up 0.02%. Nasdaq 100 futures are up 0.2%. On Tuesday, the Dow Jones Industrial Average rose 484 points, or 1.1%, to 44,459, the S&P 500 increased 72 points,