NEW YORK (AP) — U.S. stocks are drifting around a record on Friday as they head for the close of a second straight winning week.

Citi expects increased momentum in Asian fundraising for tech companies into 2025, driven by developments in artificial intelligence and robust activity in India and Taiwan, the Wall Street bank said on Thursday.

Shares are mixed in Asia after U.S. stocks edged back from their all-time high, with many regional markets closed for lunar new year holidays

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Meta Platforms and Tesla helped lead most U.S. stocks higher following a rush of profit reports from some of the country’s most influential companies. The S&P 500 climbed 0.5% Thursday. The Dow Jones Industrial Average rose 0.

Wall Street shares were slightly higher on Thursday, as investors cheered earnings from Meta , but were disappointed by Microsoft , while the dollar dipped, further boosting gold prices.

US stocks rose on Thursday, with the Nasdaq (^IXIC) and S&P 500 (^GSPC) eyeing a comeback as investors digested news that the US economy expanded slower than economists had expected in the last three months of the year.

The FTSE 100 ( ^FTSE) and European stocks were higher on Thursday, with all major indices gaining ground in early trading, as the European Central Bank (ECB) is expected to cut interest rates in an effort to support economic growth later this afternoon.

The Federal Reserve left its benchmark interest rate unchanged Wednesday after cutting it three times in a row last year, a sign of a more cautious approach as the Fed seeks to gauge where inflation is headed and what policies President Donald Trump may pursue.

Australia's export price index rose 3.6%, while its import price index advanced 0.2% in the fourth quarter of 2024.

The Japanese yen strengthened against other G-10 and Asian currencies on the prospects of a hawkish tilt to Bank of Japan’s Deputy Governor Himino’s speech this afternoon.