U.S. stocks are drifting near a record on Thursday as Wall Street’s recent rally loses some momentum. The S&P 500 was down 0.1% in early trading after pulling to the edge of its all-time high Wednesday following its sixth gain in seven days.

U.S. stock indexes rose on Wednesday due to stronger-than-expected earnings from major tech companies and growing optimism for AI.

Netflix, Oracle and other technology stocks are lifting U.S. indexes Wednesday as their profits pile higher and excitement builds around the moneymaking prospects of artificial intelligence. The S&P 500 was up 0.