US economic data tests market confidence
(Close): US markets were mixed on Friday as data on retail spending and producer prices raised questions about the buoyancy of the economy.
The tech-based Nasdaq climbed 4.5 points to 5232.89.
US retail sales in July came in at $457.7bn, an unexpectedly flat figure compared with June, when there had been strong consumer spending.
Producers prices took an unexpected drop, suggesting a continuingly weak inflation environment that may make it difficult for the Federal Reserve to raise interest rates this year.
The producer price index - the measure of the costs for services and energy products- dropped 0.4% in July. The first drop since March.
Elsewhere, economic data showing China's economy slowing down had no marked effect on trading, while data from the eurozone confirmed it grew at 0.3% in the second quarter.
Shares of Alibaba rose 7% one day after the e-commerce giant reported its largest revenue growth as a public company.
Banks saw their stock prices fall over concerns that the Fed will hold interest rates at ultra-low levels.