The Vanguard Mid-Cap Growth ETF was rising 0.6% on Friday morning at $266.77, putting the fund on pace to potentially book its first record close since November 2021, according to Dow Jones Market Data.

Stocks closed higher on Wall Street, giving the market its fifth gain in a row and notching another record high for the Dow Jones Industrial Average.

Earnings season mostly wrapped up this week, capped off by Nvidia's results. The dollar, meanwhile, continued to rise, hitting its highest level since 2022.

"There were some warning signs from Target, but if you look at personal income and retail sales, they have been strong all year," said Peter Cardillo, chief market economist at Spartan Capital Securities, in an interview. "That suggests the consumer has buying power."