Wall Street closed flat on Friday, hovering near the previous session's record-high close for the Dow and S&P 500, while the dollar firmed as investors digested the Federal Reserve's 50-basis-point cut midweek that started a rate reducing cycle.

The S&P 500 is hovering just below record territory, driven by a revived rally as bets have grown that the Federal Reserve will cut interest rates by half a percentage point.

U.S. stock indexes remained stuck in place as Wall Street made few big moves ahead of what’s expected to be the first cut to interest rates in more than four years.