The Dow Jones industrial average fell 10.34 to 5,657.95, surrendering an early 15-point gain, but recovering from a loss of more than 28 around midday.
Decliners led advancers by 1,364 to 952 on the New York Stock Exchange. NYSE volume totaled 379.62 million shares vs. 390.89 million Wednesday.
Broad-market indexes also were lower. The NYSE composite fell 0.59 to 358.09, and the S&P 500 list slipped 1.12 to 667.92.
The Nasdaq composite was off 8.78 at 1,226.70, and the Amex market value index fell 0.82 to 596.73.
"It's the same old story: waiting for tomorrow's numbers," said Hildegard Zagorski, market analyst at Prudential Securities, referring to Friday's readings on May's industrial production and April's business inventories.
The Commerce Department reported on Thursday that retail sales rose 0.8 percent to $205.5 billion in May, the third advance in four months.
Bond prices, which have slid the past four sessions, were higher in the afternoon, recovering from concerns about an upward revision in the April sales tally and that the May figure - albeit lower than many analyst forecasts - still represented a fairly robust pace.
The 30-year Treasury bond gained about three-quarters of a point, with its benchmark yield edging lower to 7.13 percent from yesterday's 7.18 percent.