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.

The Dow in early April had dropped 16% from its previous December peak. The blue-chip index was on track for its worst April decline since 1932 before Trump paused his initial “Liberation Day” tariffs, swiftly lifting stocks out of their slump.

The missing ingredient in Dow’s stock recipe is the prospect for improvement. The commodity chemical industry is plagued by overcapacity in China and slow economic growth in Europe—which also has high energy costs—chronic headaches for producers. None of that is going away soon, which is a reason he doesn’t rate the stock a Buy.

Follow the action in markets with a bevy of data on tap, 13-F filings to sort and the U.S.-Russian meeting in Alaska.

Berkshire Hathaway's $1.6 billion stake in UnitedHealth Group is helping to lift the Dow Jones Industrial Average to a new record as investors pile into healthcare sector funds.

The blue-chip Dow Jones ended higher after hitting an intraday record high on Friday, as UnitedHealth's shares jumped after Berkshire Hathaway raised its stake, but other Wall Street indexes slipped as mixed data clouded the Federal Reserve's next monetary policy move.

Shares of Dow Inc. rose 5.57% to $22.92 Wednesday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index rising 0.32% to 6,466.58 and the Dow Jones Industrial Average rising 1.

UnitedHealth Group shares popped Friday after Berkshire Hathaway announced it purchased 5 million shares of the insurance giant.