Trump's call at Davos for cuts to US interest rates, oil prices, and taxes spurred investor optimism for his policies, buoying stocks this week. The major gauges ended the holiday-shortened week with gains, demonstrating the power of Trump's comments even as Wall Street questions his ability to execute the changes.

Wall Street is pointing slightly lower in early trading but is on track to close the week with solid gains on healthy quarterly earnings reports from large U.S. corporations.

U.S. stocks are edging back from their all-time high as they close out a second straight winning week. The S&P 500 fell 0.4% on Friday, a day after setting a