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.

Wall Street romped to records as a delayed jubilation swept markets worldwide following the Federal Reserve’s big cut to interest rates. The S&P 500 jumped 1.7% Thursday for one of

Asian markets rose Friday to build on the latest global rally after a jumbo US interest rate cut this week, while the yen reversed earlier gains after the Bank of Japan decided against another hike.