U.S. stocks are hanging near their all-time high on Friday as they head for the close of a second straight winning week. The S&P 500 was virtually flat in midday trading, a day after setting a record.

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.

BMO Capital Markets forecasts the S&P 500 will reach 6,700, reflecting a gain of 13.2%. Chief investment strategist Brian Belski said he and his team "remain resolutely bullish," but expect "performance and fundamentals will more closely match the historical norms -- namely, in the high-single digit/low-double-digit percentage range in 2025."

U.S. stock indexes are drifting higher following a mostly encouraging batch of profit reports from big companies.

U.S. stock indexes are drifting higher following a mostly encouraging batch of profit reports from big companies. The S&P 500 rose 0.6% higher in early Tuesday trading, as many markets around the world took tentative steps following Donald Trump’s return to the White House.

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,