U.S. stock index futures edged lower on Friday, pausing after the previous session's rally set Wall Street's main indexes on track for weekly gains following the Federal Reserve's pivotal stance on monetary policy earlier in the week.

Wall Street is holding near its records after the Federal Reserve kicked off its efforts to prevent a recession with a bigger-than-usual cut to interest rates.

"This would be the third time that stocks entered a cycle where annual returns compound at high teens," Fundstrat's Tom Lee said.