Stock market treads water as Wall Street awaits key weekend meeting between U.S. and China

Investors remained cautious Friday as they wait to see if the Trump administration's efforts to cool trade tensions with key U.S. economic partners will bear fruit. 

Both the S&P 500 and tech-heavy Nasdaq Composite were roughly flat on Friday, while the Dow Jones Industrial Average fell 119 points, or 0.3%, to 41,249. 

Although stocks have largely rebounded from an epic drop in early April following President Trump's announcement of his "Liberation Day" tariffs on most of the world's countries, signs of a downshift in U.S. economic growth have investors worried.