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. A meeting between President Trump and Russian President Vladimir Putin was also in focus as traders looked for clues on how the outcome could steer markets.

After the opening bell, the Dow rose 0.5%, as the S&P 500 gained 0.4%. The tech-heavy Nasdaq composite climbed 0.5% in morning trade. The S&P 500 and the Nasdaq closed at record highs on Tuesday as rate-cut odds bolted higher following July inflation data.