The S&P 500 traded near its record high on Friday as Wall Street is set to wrap up the week with solid gains.
The Dow Jones Industrials climbed 86.89 points to 33,590.46.
The broader index gained 6.98 points, to 4,104.15, for yet another intraday record.
The NASDAQ Composite faded 24.41 points to 13,804.90.
Some stocks linked to the recovering economy gained. Carnival Corp rose 1.5% after getting two upgrades on Wall Street amid pent-up demand and potential summer restart. General Electric climbed about 2%. JPMorgan added 0.9%. Tech stocks including Apple and Netflix pulled back slightly.
The major averages are set to end the week higher. The Dow is up nearly 1.6% this week. The S&P 500 has gained more than 1.9% since Monday. The NASDAQ has rallied more than 2.5% heading into Friday.
On the data front, the producer price index, which measures wholesale price inflation, jumped in March. The March PPI data showed a rise of 1.0%, compared with a projected increase of 0.4% from economists surveyed by Dow Jones.
Year over year, the PPI surged 4.2%, which marks the largest annual gain in more than nine years.
Prices for 10-Year Treasurys fell, raising yields to 1.66% from Thursday’s 1.62%. Treasury prices and yields move in opposite directions.
Oil prices dropped 26 cents to $59.34 U.S. a barrel.
Gold prices slumped $16.30 to $1,741.90 U.S. an ounce.