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.

The Dow Jones Industrial Average rose 248.7 points, the S&P 500 rose 8.8 points, the Nasdaq Composite dropped 1.3 points

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.