Dow, S&P 500, Nasdaq end volatile week lower as Wall Street braces for US-China talks

US stocks wobbled on Friday after President Trump hinted more trade deals are coming and raised the possibility of a cut to US tariffs on Chinese imports ahead of talks between the two countries this weekend.

The Dow Jones Industrial Average erased opening gains to drop 0.3%. The S&P 500 closed below the flatline, while the Nasdaq Composite was little changed.

All three major averages ended the week down less than 0.5%.

Markets are focused on the US-China trade talks in Geneva this weekend, following a rally in stocks on Thursday as Trump unveiled a US-UK trade pact. As reports flagged a potential US cut to sky-high tariffs on Chinese imports, Trump said an 80% rate "seems right" in a post to Truth Social on Friday.

The president this week has maintained an optimistic tone about the talks with China, saying they would be "substantive."

Hopes for a deescalation in tariff tensions got a further boost on Friday as Trump said, "Many Trade Deals in the hopper, all good (GREAT!) ones" in a later social media post.

Bitcoin was rallying against the dollar amid the optimism, trading above $102,000 after topping $104,000 overnight.

On the earnings front, Pinterest stock surged following an upbeat quarterly revenue outlook that bolstered hopes that ad spending on the social media platform will stay strong in the face of tariff risks to the economy. But Expedia slid after the online booking platform missed revenue estimates amid flagging US demand.