Economic data released on Friday continued to show U.S. economic recovery was well on track, but it failed to offer any boost to the market.

The Commerce Department said before the opening bell that U.S. retail sales rose for the seventh straight month. The 0.4 percent jump in April is better than economists had expected, but it was offset by disappointing earnings and outlook from some major retailers. Consumer spending is always closely watched by the market as it accounts for about 70 percent of economic activity.

April industrial production data also came in stronger than expected, more evidence that manufacturing is playing a leading role in powering the economic recovery.

Meanwhile, the University of Michigan said consumer sentiment edged higher to 73.3 in May, basically in line with market anticipation.

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