The Dow (INDU) finished 0.1%, or 34 points, higher, logging its longest win streak since May 2018. The index closed just 0.8% below its record closing high from mid-July, according to Refinitiv.
The S&P 500 (SPX) finished 0.1% lower, and the Nasdaq Composite (COMP) closed 0.2% lower.
Earlier this week, China agreed to exempt shrimp, cancer drugs, pesticides and more than a dozen other products from tariffs.
The Dow climbed 1.6% this week and had its third consecutive weekly gain. The S&P rose nearly 1% and the Nasdaq climbed 0.9% for the week.
In economic news, the latest retail sales figures from the US government showed that consumer spending remains relatively healthy. Total retail sales were up 4.1% in the past 12 months.
The Fed is also expected to signal that several more rate cuts are possible later this year and in 2020, partly due to the effect of the trade war but also because rates in other parts of the world remain much lower than they are in the US. Rates are even negative in Europe and Japan.
But even though the Fed is probably preparing to cut short-term rates, long-term bond yields rose Friday thanks to the breakthroughs on the trade front and diminishing fears of a recession following the retail sales figures and a better-than expected reading on consumer sentiment from the University of Michigan.
Anneken Tappe contributed to this report.