The week has seen the market meander as it searches for its next catalyst. One possible catalyst — an interest rate cut from the Federal Reserve later this month — has been removed from the equation following sticky inflation reads.

The moves come after Wall Street saw a winning session, with the S&P 500 posting fresh intraday and closing records.

PepsiCo jumped 6.6% after delivering revenue and profit that topped Wall Street’s expectations. The drink and snack giant stood by its financial forecasts given in April, which projected lower full-year profit than previous forecasts due to increased costs from tariffs and a pullback in consumer spending.

The favorite stock for four of Wall Street's most successful fund managers is the only member of the "Magnificent Seven" to have never completed a stock split.

The Nasdaq rose to a record high on Thursday, leading a cautious climb across Wall Street's major indexes, as strong economic data lifted spirits and airline stocks took off on United Airlines' results.