U.S. stocks pulled back from their all-time high on Friday as they closed out a second straight winning week. The S&P 500 slipped 0.3% a day after setting a record. The Dow Jones Industrial Average dipped 140 points,

Trump's call at Davos for cuts to US interest rates, oil prices, and taxes spurred investor optimism for his policies, buoying stocks this week. The major gauges ended the holiday-shortened week with gains, demonstrating the power of Trump's comments even as Wall Street questions his ability to execute the changes.

U.S. stocks rose to their first all-time high of 2025 as Wall Street regained a bit of the momentum that catapulted it to 57 records last year. The S&P 500 rose 0.5% Thursday amid relatively quiet trading and surpassed the record it set early last month.