Updated at 12:20 p.m. ET

Stocks continued to trade in a narrow range Friday as has often been the case recently during this quiet summer period. Markets lacked conviction even after reports that consumer confidence rose in August and leading economic indicators climbed in July. Meanwhile, Apple (AAPL) shares hit another high, as Marvell Technology (MRVL) plunged on earnings.

The Dow Jones Industrial Average ($INDU) was up 17 points at 13,267. The S&P 500 ($INX) was up 1 point at 1,417. The Nasdaq Composite ($COMPX) was up 8 points at 3,071.

U.S. markets closed higher Thursday after German Chancellor Angela Merkel's remarks supporting the euro and the European Central Bank. The Dow closed up 85 points, the S&P 500 was up 10 points, and the Nasdaq ended the day 31 points higher.

US economic data
The University of Michigan's Consumer Sentiment Index rose to a preliminary reading of 73.6 in August from a final reading of 72.3 in July. Economists had expected the August reading to come in at 72.2, according to Briefing.com.

The index of leading economic indicators ticked 0.4% higher in July after falling 0.3% in June, according to the Conference Board, indicating the slow growth in the U.S. economy is likely to continue. Economists had expected an increase of 0.2%, according to Briefing.com.

Merkel's influence
Merkel's -- and Germany's -- support for the ECB's actions to help indebted countries and their commitment and support of the euro had a global influence.

European stocks traded in positive territory and the euro posted gains after Merkel on Thursday backed the ECB's approach to defending the euro and helping reduce borrowing costs in indebted countries when talking to reporters in Ottawa. Merkel added, "On many of these issues we feel we're on the right track."

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Asian shares were also higher, with the Japan's Nikkei ending at its highest level in over three months, buoyed by Merkel's comments as well as by a forecast by the Japanese government that the country's long deflationary conditions might end this year.

Gold on Friday extended gains from the previous session. On Thursday, gold rose the most in two weeks after Merkel's remarks. Meanwhile, oil prices fell after the U.S. said it was considering the release of oil reserves to dampen prices and concerns over an Israeli attack in Iran eased.

Stocks to watch
Gap (GPS) reported a 29% rise in quarterly profit that topped analysts' estimates, aided by domestic sales. The largest U.S. specialty-apparel retailer also raised its full-year earnings forecast.

Chipmaker Marvell Technology (MRVL) dropped after the company posted second-quarter earnings and said current-quarter results may miss expectations.

Brocade Communications Systems (BRCD), a maker of switches for data-storage networks that has been seeking to sell itself, said its chief executive officer will resign.

Food producer J.M. Smucker (SJM) reported fiscal-first-quarter​ profit of $1.17 per share, excluding certain items, 17 cents above estimates. Smucker also increased its quarterly dividend by 8%.

Athletic footwear retailer Foot Locker (FL) reported second-quarter profit of $0.38 per share, excluding certain items, 5 cents above estimates.

Teen retailer Aeropostale (ARO) reported a breakeven second quarter, matching Street estimates, while sales fell slightly short of expectations. The retailer also sees a soft start to the back-to-school season, and its third-quarter earnings forecast is below estimates.

Facebook (FB) closed down 6.3% Thursday after the end of a lockup period for its shares. It was the second-largest post-lockup decline among companies that have gone public since January 2011, Bloomberg reports.

Groupon's (GRPN) shares fell after Evercore Partners analysts downgraded shares of the daily-deals specialist to "underweight" and cut the target price on the stock to $3 a share from $6.50 a share.

Samsung rested its case in a patent-infringement trial with Apple (AAPL) after witnesses said the iPhone maker would owe the South Korean company as much as $421.8 million in royalties. Apple shares, meanwhile, reached a record close of $636.34 in regular trading Thursday. Reports about the company's next product releases pushed the stock to new highs Friday.