Stocks traded in the green to start the day on Friday, signaling another record-breaking session as investors applauded a revision to December inflation data that showed it was even lower than first reported.
The S&P 500 (^GSPC) rose 0.1% after Thursday's hard-earned record close put the benchmark index within three points of closing above 5,000 for the first time. The Dow Jones Industrial Average (^DJI) fell below the flat line, while the Nasdaq Composite (^IXIC) led the way higher, up 0.3%.
A stream of well-received quarterly earnings buoyed stocks in a weak week on economic updates, which have been driving shifts in trend thanks to their importance in the Federal Reserve's thinking on policy.
Read more: What the Fed's interest rate decision means for bank accounts, CDs, loans and credit cards
Given this, investors watched Friday's CPI revisions more closely than usual. Fed officials stressed that they are taking the time to verify that price pressures are indeed subsiding before making any interest rate cuts.
PepsiCo's (PEP) results took center stage on Friday as the pace of corporate earnings began to slow. Shares fell more than 2% in morning trading after the soft drink and snack company's sales beat Wall Street estimates amid rising prices.
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