Wall Street edged back from its all-time high on Friday, as U.S. stock indexes drifted following mixed profit reports from big companies. The S&P 500 barely budged and slipped by less than 0.1%, a day after rallying within 0.

The S&P 500 (\^GSPC -0.01%) has advanced 21% in the last year, and many stocks now trade at expensive valuations. However, most Wall Street analysts still see buying opportunities