Markets meander amid light trading

U.S. stock indexes ticked lower on Thursday, but only after a circuitous ride that saw them flip multiple times between small gains and losses. It’s the latest meandering course for a market that’s been pushed in many directions the last few weeks.

Food companies struggled after the makers of Spam and Folgers coffee reported weaker-than-expected results, and grocers fell after Amazon said it plans to cut prices for avocados, eggs and other products when it takes control of Whole Foods next week. Retailers, meanwhile, were big winners after a wide variety said they earned fatter profits last quarter than Wall Street forecast.

The Standard & Poor’s 500 index fell 5.07 points, or 0.2 percent, to 2,438.97. Through the day, it flipped between gains of up to 0.3 percent and losses of up to 0.3 percent. The Dow Jones industrial average fell 28.69 points, or 0.1 percent, to 21,783.40, the Nasdaq composite fell 7.08 points, or 0.1 percent, to 6,271.33 and the Russell 2000 index of small-cap stocks rose 4.14 points, or 0.3 percent, to 1,373.88.

The market has drifted up and down since the S&P 500 set a record high earlier this month. This week has also featured lighter trading than usual, with few market-moving events on the calendar.

Shares of refiners rose along with the price of gasoline as Hurricane Harvey approached the Texas coast of the Gulf of Mexico, which is home to many refineries.

Benchmark U.S. crude fell 98 cents, or 2 percent, to settle at $47.43 per barrel. Brent crude, the international standard, fell 53 cents, or 1 percent, to settle at $52.04 a barrel.