Trade hopes lifted stocks on Wall Street Friday. Washington and Beijing made positive comments regarding a tentative trade deal. That helped drive the S&P 500 up 2-tenths percent.
For the week, the S&P 500 fell a third of a percent, down for the first time in seven weeks.
RiverFront Investment Group senior portfolio manager Rob Glownia:
SOUNDBITE: RIVERFRONT INVESTMENT GROUP SENIOR PORTFOLIO MANAGER ROB GLOWINA (ENGLISH) SAYING:
"It's a relatively flat day. I think the driver is folks trying to understand what this Phase One of the trade deal entails."
Shares of Tesla skidded. The Blade Runner-style electric pickup truck it unveiled Thursday received an underwhelming response.
Nordstrom was among the biggest gainers on the S&P. The upscale department store chain raised its full-year forecast ahead of the holiday season.
J.M. Smucker's shares rose after the maker of preserves and peanut butter signaled that demand is improving for its coffee and snacks.