NEW YORK — The U.S. stock market rose to the edge of its all-time high on Friday.

The S&P 500 added 0.2% and finished just 0.3% shy of its record closing level, which was set in October. It had briefly topped the mark during the day, before paring its gain.

The Dow Jones Industrial Average added 104 points, or 0.2%, and the Nasdaq composite gained 0.3%.

The modest moves capped a quiet week for Wall Street, offering a respite following weeks of sharp and scary swings.

Ulta Beauty helped lead the market and jumped 12.7% after the retailer reported stronger profit and revenue for the latest quarter than expected. CEO Kecia Steelman said its customers are broadly feeling pressure, but Ulta saw growth across its categories, particularly in e-commerce. It raised its forecast for revenue over the full year.

Another encouraging signal for the holiday shopping season came from Victoria’s Secret & Co. It delivered a milder loss for the latest quarter than analysts expected, and it likewise raised its forecast for sales over the full year. Its stock rallied 18%.

Warner Bros. Discovery rose 6.3% after Netflix said it would buy Warner Bros. for $72 billion in cash and stock following its pending split from Discovery Global.

The deal for the company behind HBO Max, “Casablanca” and “Harry Potter” is not a sure thing, though. It could raise fears at the U.S. government about too much industry power residing at Netflix.

Shares of Netflix fell 2.9%. Paramount Skydance, which earlier had been seen as a front-runner to buy Warner Bros., sank 9.8%.

Also on the losing end of Wall Street was SoFi Technologies. The financial technology company fell 6.1% to $27.78 after saying it would add $1.5 billion worth of its stock into the market in order to raise cash. It’s selling the stock at a price of $27.50 per share.

All told, the S&P 500 rose 13.28 points to 6,870.40. The Dow Jones Industrial Average added 104.05 to 47,954.99, and the Nasdaq composite gained 72.99 to 23,578.13.