NEW YORK (CNNMoney.com) -- Stocks were mixed Thursday morning, as surging oil and gold prices and a run up in Treasury yields gave investors a reason to hesitate, one day after the Dow Jones industrial average hit its highest close ever.

The Dow (down 18.25 to 11,832.36, Charts) lost a few points about an hour into the session, after rallying in the previous session to end at 11,850.61, its highest close ever. On Tuesday, the blue-chip barometer first knocked out its old record from January 2000.

The S&P 500 (down 1.58 to 1,348.64, Charts) index hovered near unchanged after ending the previous session at a 5-1/2 year high. The tech-fueled Nasdaq composite (up 0.06 to 2,291.01, Charts) was also little changed after rising more than 2 percent in the previous session.

Stocks had fallen at the open as investors eyed surging oil and gold prices and a run up in Treasury yields and opted to back out after the recent run up. But the market soon stabilized, with the Nasdaq taking the lead.

U.S. light crude oil prices jumped 2 percent Thursday morning on the New York Mercantile Exchange, after OPEC said it would cut production by about 1 million barrels per day. Oil prices had fallen to 8-month lows on Wednesday.

The run up in oil prices was good news for oil stocks such as Exxon Mobil (up $0.61 to $67.22, Charts). However, for the rest of the market, it was not so welcome, as it reminded investors that consumer spending could be vulnerable should oil prices make a sustained move back toward the summer highs.

Retailers were in focus, with a number of chains reporting September sales at stores open a year or more, also known as same-store sales. Sales were generally very strong in the month. However, that had a mixed impact on the underlying stocks Thursday morning.

Teen retailer American Eagle Outfitters (down $1.13 to $45.21, Charts) reported a stronger-than-expected 19 percent rise in September same-store sales and boosted its third-quarter earnings forecast. However, shares fell about 2 percent.

Starbucks (up $1.60 to $37.56, Charts) said late Wednesday that September same-store sales rose 6 percent, topping estimates. Shares jumped 4.5 percent Thursday morning.

J.C. Penney (down $0.90 to $70.96, Charts) reported stronger September sales and boosted its third-quarter earnings outlook. However, shares declined.

Hewlett-Packard (down $0.36 to $37.66, Charts) shares slipped Thursday on news late Wednesday that the California attorney general brought felony charges against former CEO Patricia Dunn and others involved in the company's boardroom leak probe.

Apple (down $0.44 to $74.94, Charts) said late Wednesday that an internal probe of its past stock-option practices showed errors and as a result, it will likely need to restate past results. The stock declined Thursday.

COMEX gold for December delivery rallied $10.30 to $577 an ounce, after slumping more than $22 Tuesday.

Treasury prices slipped, raising the yield on the 10-year note to 4.60 percent from 4.57 late Wednesday. Bond prices and yields move in opposite directions.

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