U.S. stocks closed nearly unchanged on Friday, as investors paused buying after a strong rally in the prior session that was fueled by an upsized interest-rate cut by the Federal Reserve, while Nike's gains helped nudge the Dow to a record.

The Dow closed at a record high on Friday. Investors see more gains ahead as the Fed kicks off a new cycle of easing interest rates.

Spurred on by the Federal Reserve Board's half-point cut in interest rates, the stock market closed out a buoyant week on Friday with the Dow Jones Industrial Average ending in record-high territory.