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US stocks flat amid buoyant industrial, jobs data

US stocks were flat in early trade Thursday despite buoyant industrial production and jobless claims data that pointed to continued strength in the economy.

Traders remained cautious ahead of US Federal Reserve Chair Janet Yellen's speech Friday at a summit of global central bankers in Jackson Hole, Wyoming.

Yellen is expected to address concerns about the alleged lack of direction and clarity in Fed policy, amid criticism from some quarters that the Fed could do more to help the economy.

Markets, meanwhile, will be focused on what she says about the path of interest rates.

About 30 minutes into trade on Thursday, the Dow Jones Industrial Average was essentially unchanged at 18,481.69.

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The broad-based S&P 500 slipped 0.03 percent to 2,174.74, while the tech-rich Nasdaq Composite Index was also fractionally lower at 5,215.89.

US unemployment benefits claims held steady at their historically low level last week, evidence of strength in the jobs market.

Durable goods orders meanwhile rebounded in July after two straight falls, showing strength in the US manufacturing sector.

US retailers turned in mixed quarterly results, with shares of large discount chains off sharply after disappointing earnings. Dollar General lost 13.2 percent and its rival Dollar Tree, 6.6 percent.

Mylan, under attack for profiteering on the near-monopoly market position held by its EpiPen, used by at-risk allergy sufferers, rebounded 3.4 percent after pledging to lower the cost of the epinephrine injectors.

Sears Holdings beat analysts' forecasts handily with a much smaller quarterly loss than expected, but shares of the well-known department store chain gave up 1.2 percent.