The Commerce Department reported retail sales climbed a seasonally adjusted 1.4% last month, following a 0.4% growth March, which again provoked the concrns over the economic slowdown. The growth in retail sales April beat the 0.8% increase estimates.

The Dow Jones industrial average declined 25.27, or 0.2%, to 10,274.98 in late morning trading. The Standard & Poor's 500 index slid 3.83, or 0.3%, at 1,167.28, and the Nasdaq composite gained 0.81, or 0.04%, to 1,972.36.

Oil dropped in early trading. A barrel of light crude traded at $49.43, down $1.02, on the New York Mercantile Exchange.

Gold futures lost $3 to $424.90 an ounce in New York.

Overseas, Japan's Nikkei stock average lost 0.38%. In afternoon trading, Britain's FTSE 100 advanced 0.57%, Germany's DAX index climbed 0.54% and France's CAC-40 gained 0.96%.

The dollar traded at 106.66 yen, up from 105.78 yen late Thursday, while the euro declined vs. the greenback to $1.2710 from $1.2804.

Shares of Wal-Mart declined after the giant retailer posted a 14% growth in 1Q earnings on a 9.5% jump in in sales. These results disappointed the company's forecast by a penny blaming high gasoline prices and cooler weather.

The retailer Wal-Mart also warned that it expects 2Q net profit to drop below estimates.


Shares UP:

Shares of E*Trade advanced 1%.
Target Corp. shares gained 1.4%.
Disney added 0.8%.
Cuno shares were up 30%.


Shares DOWN:

Ameritrade shares dropped 0.2%.
Wal-Mart shares declined 2.4%.
3M shares slipped 0.9%