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

The hedge fund billionaire Bill Ackman has bet big on the iconic American brand. His firm, Pershing Square, acquired three million shares, or 0.2 percent, of Nike this spring. His stake is currently worth about $250 million.

Friday could see a surge in trading activity due to triple witch option expirations and S&P index rebalance trades, NYSE's Michael Reinking said.