"We are clearly in a sideways market," said Arian Vojdani, investment strategist at MV Financial. "The story – apart from strong economic data and good profits – is not good."
"Investors hold their cards by the chest because they want to see how that affects them," Vojdani said.
Continuing trade distortion between the US and China has led to increased market volatility this week, with the Cboe Volatility Index (VIX) rising 14 percent
"Trading remains the main concern for the market" Kate Warne, investment strategist at Edward Jones. "People are really worried about how much trade the US economy could slow down."
Axios reported on Friday, citing sources, that Trump had repeatedly told White House leaders that he wanted to exclude the US from the World Trade Organization.