Read a roundup of this week's major events, including the Federal Reserve's bumper 50 basis point rate cut and the S&P 500's (SP500) historic milestone.

U.S. stocks drifted around their all-time highs, as a record-setting week for Wall Street closed on a quieter note

Research shows that companies that initiated a stock split normally return 25%, on average, in the year following the announcement, compared with average increases of 12% for the S&P 500, according to data compiled by Bank of America analyst Jared Woodard.