U.S. stocks rallied to the brink of a record after more companies reported fatter profits than expected. The S&P 500 rose 1% Thursday.

Wall Street edged back from its all-time high on Friday, as U.S. stock indexes drifted following mixed profit reports from big companies. The S&P 500 barely budged and slipped by less than 0.1%, a day after rallying within 0.