Midday Report: Foot Locker Hit With Downgrade; Stocks Fluctuate

U.S. stocks hovered near the flatline with economic data giving investors little reason to push higher. U.S. industrial production fell at a far steeper pace than expected in March, while China's first-quarter growth slipped to its slowest in seven years. Consumer sentiment unexpectedly fell in early April, according to the University of Michigan survey. Those surveyed reported a slowdown in expected wage gains, and concern that slowing economic growth would impact the number of jobs created. Foot Locker (FL) - Get Report was under pressure after Cowen & Co. downgraded its stock to MARKET PERFORM from OUTPERFORM. The firm said the athletic retailer could see store traffic suffer as Nike (NKE) - Get Report ramps up its promotional activity.