EDITOR'S NOTE

Markets have hit new highs following President Donald Trump's signing of a "phase one" trade deal with China, but now trade negotiations are shifting to other fronts.

CNBC's Tom Franck writes about the sticking points in dealing with the World Trade Organization, the European Union and a post-Brexit United Kingdom. And Trump has already been plying the familiar rhetoric.

"They've taken advantage of our country, the European Union, for many, many years," Trump told CNBC's Joe Kernen on Wednesday. "But I said, look, if we don't get something, I'm going to have to take action, and the action will be very high tariffs on their cars and other things."

Trade headlines could once again give investors a reason to sell in 2020. Some fear the market is too pricey and beginning to look like 1999, just before the tech bubble  burst.

Michael Santoli, CNBC's senior markets commentator, writes that while the stock market is steeply valued, it's nowhere near as overvalued as it was in 1999. "Markets can be overheated without nearing a meltdown," he writes. "Stocks can be pricey without being on a precipice."

In this edition of Weekend Brief, we show there are still plenty of places to invest.  CNBC's Michael Bloom has pored through recent Wall Street research to find companies that still offer strong growth stories.

We also explore two broad investing themes. CNBC's Emma Newburger writes that many investors are putting  their money into investments that address climate change risk. And Fred Imbert writes about the massive flow of investment dollars into exchange-traded funds and what active money managers are doing to get in on the game.

Enjoy the weekend and thanks for reading Weekend Brief.  Email your thoughts at EveningBrief@nbcuni.com or follow me on Twitter @tellittoal.

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MICHAEL SANTOLI'S MARKET COLUMN

THE WEEK AHEAD

YOUR WEEKEND BRIEFING