Lackluster data pulls Wall Street from record levels

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 desp