The Dow inched lower by 8 points just after the opening bell, following a more than 220 point gain Thursday on reports that a tentative trade agreement had been reached.

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China’s Commerce Ministry was set to have a press conference Friday morning to talk more about the trade talks — even as President Trump seemed to throw cold water on the reports of a trade truce by tweeting that a story in “The Wall Street Journal” about rolling back tariffs was “completely wrong.”

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The S&P 500 and Nasdaq each fell slightly as well, one day after both indexes closed at fresh record highs.

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Stocks are on track to have a winning week though as optimism that a deal to avoid the December 15 deadline for higher tariffs would be reached have lifted the sentiment on Wall Street.

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Investors seemed set to brush off a report from the US government Friday morning that showed a smaller jump in retail sales than expected in November as consumers were gearing up to shop for the holidays.

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Adding to the optimism? The resounding win for British Prime Minister Boris Johnson’s Conservative Party in the United Kingdom’s general election Thursday clears up some lingering doubts about Brexit.

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The UK is now firmly on track to officially leave the European Union by the end of January. Stocks in the UK rallied on the news, as did the British pound.

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