Wall Street Drifts Higher in Sleepy Action

FOX Business: Capitalism Lives Here

U.S. equity markets glided to the upside on Friday in light trading amid a light docket of news reports.

Today's Markets

As of 9:32 a.m. ET, the Dow Jones Industrial Average rose 24.2 points, or 0.14%, to 16945, the S&P 500 gained 2 points, or 0.1%, to 1961 and the Nasdaq Composite advanced 5 points, or 0.1%, to 4364.

This week, it's been all about the Federal Reserve. Dovish remarks from the powerful central bank sparked the best rally for the S&P 500 since May, propelling the index to record highs.

The Street was quite quiet on Friday, with no economic reports on the docket.

On the corporate front, billionaire investor Carl Icahn called on Family Dollar (NYSE:FDO) to put itself up for sale immediately. He revealed a stake in the discount retailer earlier this month.

In commodities, U.S. crude oil futures rose 6 cents, or 0.06%, to $106.49 a barrel. Wholesale New York Harbor gasoline dipped 0.11% to $3.122 a gallon. Gold fell $2.30, or 0.18%, to $1,312 a troy ounce.

The calendar heats up next week. There are several key housing and consumer-focused reports, along with earnings from blue-chip footwear maker Nike (NYSE:NKE).