US stocks fluctuated on Friday, hovering near record highs as signs of strength in the economy provided the buoyancy that Netflix's (NFLX) earnings report lacked. The S&P 500 and Nasdaq trimmed early gains after the University of Michigan consumer sentiment survey showed one-year inflation expectations plunging to 4.

Wall Street closed its third winning week in the last four with a quiet finish. The S&P 500 edged down by a whisper, less than 0.1 per cent, on Friday after setting its all-time high the day before. The Dow Jones Industrial Average fell 0.

Major stock indexes closed higher on Wednesday after President Trump soothed investors by saying he is not planning to fire Federal Reserve Chair Jerome Powell.