Updated from 4:07 p.m. EDTStocks wilted in the final hour of trading Thursday as investors balked amid high oil prices and mixed economic data and took the market to its lowest closing levels in nearly two months ahead of a mostly solid second-quarter report from IBM ( IBM). The Dow Jones Industrial Average lost 45.64 points, or 0.45%, to 10,163.16; the S&P 500 dipped 4.78 points, or 0.43%, to 1106.69; and the Nasdaq was down 2.17 points, or 0.11%, to 1911.71. The 10-year Treasury note traded flat in price to yield 4.48%, and the dollar was slightly higher against the yen and euro. Volume was down from the previous session but still higher than a typical day of summer trading, thanks in part to the first blockbuster day of second-quarter earnings announcements. More than 1.4 billion shares traded on the New York Stock Exchange, where advancers outnumbered decliners by about 5 to 4. On the Nasdaq, over 1.6 billion shares changed hands, and advancers and decliners were about even. IBM's profits jumped over 17%, beating Wall Street's estimates and showing that corporate tech spending rose at a healthy clip for the quarter. The tech giant said its net income was $2.0 billion, or $1.16 a share, from $1.7 billion, or 97 cents a share, in the same quarter last year. "There are a lot of questions swirling around the tech sector now after some of the earnings warnings in software," said Adolfo Rueda, senior technical analyst with Shields & Co., noting that the positive report from IBM could provide investors with the answer they were looking for. On the economic front, inflation concerns eased after the government reported the producer price index (or PPI) sank unexpectedly by 0.3% in June -- economists estimated it would gain 0.2% -- after jumping 0.8% in May. The core rate, excluding volatile food and energy prices, slowed from a 0.3% increase to a 0.2% one.