Wall Street digested the latest signs President Trump's trade war could be entering a more conciliatory phase.

Wall Street pointed modestly higher before the opening bell as investors pored over the latest corporate earnings ahead of weekend trade talks between China and the U.S. Markets initially seemed indifferent to what appeared to be a de-escalation of the U.

Trading was mixed Friday as concerns about the U.S. economy offset signs that the Trump administration will de-esclate its trade war.