Wall Street stocks finished little changed Thursday as markets absorbed a disappointing inflation report, while oil prices shot higher on the eve of a US-Russia summit on Ukraine.

After a negative start, major US indices worked their way back up to even following July wholesale price data.

The producer price index rose 0.9 percent on a month-on-month basis, much greater than analysts expected following benign consumer pricing data earlier this week.

“The large spike in the Producer Price Index (PPI) this morning shows inflation is coursing through the economy, even if it hasn’t been felt by consumers yet,” said Chris Zaccarelli, chief investment officer for US-based Northlight Asset Management.

Zaccarelli called the report a “most unwelcome surprise,” adding that it is “likely to unwin

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