Stocks make a run to record highs but then fade in early trading Tuesday

U.S. stocks were trading mixed to flat on Tuesday as investors took data on retail sales and producer prices in stride as Federal Reserve policy makers prepared to kick off a closely watched two-day meeting. The U.S. May producer-price index rose 0.8% in May, pushing prices up 6.6% year over year. Separately, retail sales dropped 1.3% in May. Also, the New York Fed’s Empire State factory index fell to 17.4 in June from 24.3 a month earlier. The S&P 500 index SPX, -0.20% was down 0.1% at 4,252, after hitting an intraday all-time high at 4,257.16. The Dow Jones Industrial Average DJIA, -0.27% was trading flat at 34,396, while the Nasdaq Composite Index COMP, -0.71% declined 0.3% at 14,133. In corporate news, shares of DraftKings Inc. DKNG, -4.17% was trading 8% lower after news from a short seller.

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