Wall St treads water ahead of big bank earnings

REUTERS: U.S. stocks traded in a tight range on Thursday, as losses in the healthcare sector were offset by a rise in industrial shares, with big U.S. banks notching gains ahead of earnings.

The S&P 500 is hovering near its six-month high and is less than 2per cent away from its record high touched in late September. Investors shrugged off inflation data, after a Labor Department report showed U.S. producer prices increased by the most in five months in March, but underlying producer prices remained soft.

Concho Resources Inc fell 4.7per cent after brokerage BMO cut its price target on the oil and gas producer.

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