Stocks were mostly lower Friday, a day after both the Dow Jones Industrial Average and S&P 500 closed at record highs following the Federal Reserve’s half-point cut to interest rates.These stocks were making moves Friday:Shares of FedEx were tumbling 14% after the shipping and logistics company reported fiscal first-quarter adjusted earnings that widely missed Wall Street estimates amid a slump in demand,

Key Takeaways The S&P 500 and Nasdaq lost ground at midday Friday after rallying to record highs Thursday in the wake of the Federal Reserve's rate cut.FedEx shares fell after the package delivery firm missed profit and sales estimates and cut its outlook.

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

Asian stocks have surged, with Japan’s Nikkei 225 index leading gains after Wall Street romped to records following the Federal Reserve’s big cut to interest rates