U.S. stocks are drifting near a record as Wall Street’s recent rally loses some momentum. The S&P 500 slipped 0.1% in early trading Thursday, a day after after pulling to the edge of its all-time high set in early December.

BMO Capital Markets forecasts the S&P 500 will reach 6,700, reflecting a gain of 13.2%. Chief investment strategist Brian Belski said he and his team "remain resolutely bullish," but expect "performance and fundamentals will more closely match the historical norms -- namely, in the high-single digit/low-double-digit percentage range in 2025."

U.S. stocks rose to their first all-time high of 2025 as Wall Street regained a bit of the momentum that catapulted it to 57 records last year. The S&P 500

U.S. stock indexes are drifting higher following a mostly encouraging batch of profit reports from big companies.

All told, the S&P 500 rose 37.13 points, the Dow Jones Industrial Average gained 130.92 and the Nasdaq composite jumped 252.56.

Global shares are mostly higher following a rally on Wall Street driven by encouraging update on U.S. inflation. Oil prices slipped and U.S. futures edged higher.

U.S. stocks rose to a record Thursday as Wall Street regained some of the momentum that catapulted it to 57 all-time highs last year.