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.

Wall Street's main indexes were mixed on Thursday with S&P 500 edging up to a closing high, while the Dow Jones and Nasdaq were flat, after a hotter-than-expected producer prices report dampened expectations of potential interest-rate cuts.

Signs that U.S. tariffs on imports have not fully filtered into headline consumer prices came as a relief for investors this week as they seek insight on the impact of trade uncertainty on the economy.