Signs that inflation was under control and manufacturing was picking up pace was of little help to the markets as they closed nearly flat on Wednesday. To begin with, the Board of Governors of the Federal Reserve reported that industrial production increased 0.6% in July, better than consensus estimates of a rise of 0.5%. Separately, Staples, Inc. (NASDAQ: SPLS ) slumped 14.6%, missing the Street's estimates while earnings also declined from year-ago levels.