U.S. stocks are drifting in early trading after leaping to records the day before as part of a worldwide rally. The S&P 500 was down 0.2% Friday but still on

Friday could see a surge in trading activity due to triple witch option expirations and S&P index rebalance trades, NYSE's Michael Reinking said.

Wall Street is rising toward records Thursday as a delayed jubilation sweeps markets worldwide following the Federal Reserve’s big cut to interest rates. The S&P 500 was 2% higher in afternoon trading and above its all-time closing high set in July.