The Dow closed at a record high on Friday. Investors see more gains ahead as the Fed kicks off a new cycle of easing interest rates.

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

Stocks were choppy Friday as market participants took a breather following Thursday's Fed-fueled rally. While buzz continued to swirl around the Federal Reserve's jumbo-sized rate cut from earlier this week, today's headlines centered mostly on single-stock news, including Nike's ( NKE) big C-suite shake-up.