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

In the aftermath, economists and traders moved to adjust their forecasts and wagers to account for the Fed’s new narrative. Goldman Sachs Group projected a longer string of consecutive cuts, while JPMorgan Chase’s economists reiterated their call for another half-point reduction in November even as they pointed to jobs data as key to their view.