landsberg bennettStocks finished slightly higher Friday as investors digested confirmation of a long-awaited “phase one” U.S.-China trade deal. The Dow added 3 points, while the S&P 500 ticked up less than 0.1%. The Nasdaq Composite ended the day higher by 0.2%. For the week, the Dow gained 0.4%, the S&P advanced 0.7%, and the Nasdaq Composite rallied 0.9%.

The Dow initially jumped more than 100 points after Washington and Beijing agreed to a preliminary trade deal, averting the upcoming December 15 tariffs. Risk sentiment was dampened after President Trump said the U.S. would leave 25% tariffs in place on $250 billion of Chinese imports, and rollback duties on just $120 billion worth of goods. Market participants also kept tabs on political updates from across the pond. European bourses ended higher after U.K. Prime Minister Boris Johnson’s Conservative party secured a landslide election victory, helping ease fears of prolonged Brexit negotiations.

Five of 11 S&P 500 sectors finished in positive territory with Technology shares pacing gains. Adobe jumped 3.9% after the software company topped analyst expectations on both the top and bottom line. In other earnings, Costco lost 1.8% after the club warehouse retailer fell short of revenue estimates.

On the data front, retail sales climbed 0.2% in November, below expectations of a 0.5% gain and the prior month’s upwardly revised 0.4% figure. Treasuries rebounded, sending yields lower along the curve with the yield on the 10-year note down seven basis points to 1.82%. In commodities, WTI crude added 1.0% to $59.81/barrel.