US stocks were mixed on Friday as Wall Street tempered its rate-cut hopes amid economic data this week that showed higher-than-expected wholesale inflation and a rise in July retail sales. Traders also awaited Friday's meeting between President Trump and Russian President Vladimir Putin,

The Dow on Friday was on pace to close at its first record high of the year, reflecting steady optimism on Wall Street despite signs of underlying turbulence in the economy.

U.S. stocks advanced to mark new record closes on Wednesday, while the Dow Jones (DJI) ended just 91.77 points away from its record close, as a rally sparked by heightened expectations for Federal Reserve rate cuts continued.