Key Takeaways The U.S. and U.K. announced a trade deal framework on Thursday, boosting Wall Street's hopes for more deals to come. U.S. and Chinese officials are scheduled to meet in Switzerland this weekend to hold their first talks since the beginning of a tit-for-tat trade war that White House officials have compared to an embargo.

Oil prices settled nearly 2% higher on Friday and notched their first weekly gains since mid-April as a U.S. trade deal with the United Kingdom turned investors optimistic ahead of talks between top officials from Washington and Beijing.