Santoli's Friday market wrap-up: Wall Street at records in data blackout

(These are the market notes on today's action by Mike Santoli, CNBC's Senior Markets Commentator. See today's video update from Mike above.) Wall Street holds near record highs in a government-data blackout , with enough rotational energy toward left-behind groups, refreshed confidence in the AI spending frenzy, certainty of a Fed rate cut this month and speculative aggression in lower-quality longshots to keep the indexes aloft. In the absence of a monthly jobs report to create a concentrated node of repriced expectations and market volatility, the tape reverts to the prevailing slow-grind uptrend and investors defer to pre-existing assumptions of a slack labor market eliciting looser policy but not foretelling broad economic pain. A weak ISM Services report seemed to give an extra push t