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.

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

Over the past couple of years, the US economy has wrung out inflation like dirty mop water from just about every sector — except for the housing market, which remains paralyzed by high prices and chronically low supply.