Markets took a breather on Friday, with stock futures little changed in premarket trading after rallying to record highs yesterday on the Fed's supersized rate cut earlier in the week.

U.S. stocks were higher after the close on Thursday, as gains in the Technology, Industrials and Basic Materials sectors led shares higher. At the close in NYSE, the Dow Jones Industrial Average rose 1.

U.S. stocks rose after the Federal Reserve lowered its benchmark interest rates by 50 basis points to a range of 4.75% to 5%. That was the first rate cut in over four years that marked the beginning of a monetary-easing cycle in the world's largest economy.