Read a roundup of this week's major events, including the Federal Reserve's bumper 50 basis point rate cut and the S&P 500's (SP500) historic milestone.

Wall Street closed flat on Friday, hovering near the previous session's record-high close for the Dow and S&P 500, while the dollar firmed as investors digested the Federal Reserve's 50-basis-point cut midweek that started a rate reducing cycle.

U.S. stocks drifted around their all-time highs, as a record-setting week for Wall Street closed on a quieter note