US stocks wavered on Friday, hovering near record highs as signs of strength in the economy provided the buoyancy that Netflix's (NFLX) earnings report lacked. The S&P 500 and Nasdaq trimmed early gains after the University of Michigan consumer sentiment survey showed one-year inflation expectations plunging to 4.

Stock futures are slightly higher Friday morning as the market looks to close out the first week of earnings-reporting season on a high note.