EDITOR'S NOTE

The S&P 500 fell slightly for the week, marking its first weekly loss in seven. The Dow Jones Industrial Average and S&P 500 also ended consecutive weekly winning streaks. Stocks, however, pared some of those weekly losses on Friday’s session.

Wall Street’s weekly decline comes amid mixed headlines around U.S.-China trade headlines. On Friday, President Donald Trump said China and the U.S. were close to reaching a preliminary deal. Chinese President Xi Jinping said Beijing wants to strike an agreement with the U.S. but noted China is not afraid to "fight back."

Despite the lingering uncertainty around trade and this week’s market decline, the major averages are still less than 1% from record levels.

Wall Street will get its first clues about the holiday shopping season next week on Black Friday, writes CNBC’s Patti Domm. The National Retail Federation expects sales during the season to grow by about 4%.

Early signs of a strong season could push stocks further into record territory. However, if holiday shopping trends show signs of a weaker consumer, the market could take a hit.

Stay on the lookout in your email box for Saturday’s Weekend Brief newsletter, which will break down the stock-market 2020 outlook from Wall Street’s top strategists.

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