Wall Street pointed lower Friday as a rally driven by the Federal Reserve’s big cut to interest rates faded and markets' focus turned to earnings and other corporate news. Futures for the S&P 500 shed 0.

Just as Wall Street traders come to grips with the Federal Reserve’s interest-rate cut, Friday’s US options expiration threatens to whipsaw the market some more.

Wall Street is quieter, and U.S. stocks are drifting after they leaped to records the day before during a worldwide rally. The S&P 500 slipped 0.1% in early Friday trading