Wall Street is drifting toward the finish of its third winning week in the last four. The S&P 500 was flat Friday after setting its all-time high the day before.

JPMorgan's Brenda Duverce is initiating coverage on the AI startup today. Duverce said OpenAI stands to shake up the search market further in the years ahead, with an unrivaled brand and a $700 billion total addressable market potential.

Consumers' inflation expectations, by some measures, are also the highest in decades. Inflation has been above the Fed's 2% target for over four years, and the prospect of a dovish Fed under the stewardship of a new Trump-friendly Chair could keep it that way.

The economy and the markets are "under surveillance" as we cover the latest in finance, economics and investment.

This past April, when President Donald Trump started flirting with the notion of firing Fed Chair Jerome Powell, stocks and the dollar tumbled because investors worried that even talking about such a move crossed a red line.

Federal Reserve Governor Christopher Waller said policymakers should cut interest rates this month to boost a job market that looks to be weakening.

Wall Street opened higher on Friday as market sentiment continued to be upbeat, a day after the S&P 500 and Nasdaq Composite closed at record highs. The S&P 500 (SP500) +0.3%, the Dow (DJI) +0.2%, and the Nasdaq Composite (COMP:IND) +0.

A healthy crop of earnings helped European stocks bust out of a four-day losing streak on Thursday, Wall Street was watching Netflix and the dollar bounced after U.S. President Donald Trump quashed talk he was about to fire Fed head Jerome Powell.

Many on Wall Street have privately worried that political pressure will undermine the Federal Reserve’s credibility.

Wall Street is hanging near its records following some better-than-expected updates on the economy and a mixed set of profit reports from big U.S. companies.