U.S. stocks are drifting in early trading after leaping to records the day before as part of a worldwide rally.

The S&P 500 was down 0.2% Friday but still on track for its fifth winning week in the last six.

The Dow Jones Industrial Average slipped 63 points, or 0.2% after likewise setting its own all-time high the day before.

The Nasdaq composite was flat.

FedEx slumped after its profit and revenue for the latest quarter fell short of analysts’ expectations.

Nike jumped after naming Elliott Hill as its chief executive.

Treasury yields rose in the bond market. 

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