US markets concluded a winning week on a tepid note on Friday, retreating following mixed earnings in a move attributed to profit taking.

After a flattish open, all three major indices moved into negative territory -- a trend that held the rest of the session.

"This is normal consolidation or profit taking after a big 2-week rally," said Adam Sarhan of 50 Park Investment.

The S&P 500, which closed at a record on Thursday, fell 0.3 percent to 6,101.24.

The Dow Jones Industrial Average also declined 0.3 percent to 44,424.25, while the Nasdaq Composite Index dropped 0.5 percent to 19,954.30.

Stocks have gained in recent sessions following benign US inflation data, strong earnings from banks and the new presidency of Donald Trump in Washington.

Markets have thus far welcomed his growth-oriented agenda and largely shrugged off his threats of tariffs.

Sarhan said the market was poised for a pause given the heavy calendar next week, which includes a Federal Reserve monetary policy decision and earnings from tech giants and other big companies.

Among individual companies, Facebook parent Meta gained 3.2 percent after CEO Mark Zuckerberg said the company would invest up to US$65 billion in 2025 in new artificial intelligence infrastructure, including a datacentre "so large it would cover a significant part of Manhattan."

Boeing dropped 1.4 percent after announcing it will incur a bigger than expected loss in the fourth quarter due mainly to costs connected to a lengthy labour strike last year.

Others with big earnings-related moves included American Express, down 1.4 percent; CSX, down 5.8 percent; and Texas Instruments, down 13.1 percent. (AFP)