The S&P 500 flirts with a record as U.S. stock-market investors return from a three-day weekend, awaiting minutes from the Federal Reserve's January meeting and data due later this week.

Not only did the S&P 500 finish Friday within spitting distance of its record, but the market continues to broaden beyond the Magnificent Seven — a group that’s accounted for about three-quarters of the benchmark’s annual returns for the last two years.