All major U.S. stock market averages dipped today after a rather positive morning trading session following the news that Chinese trade officials canceled a visit to U.S. farms in Montana, which was scheduled to take place after trade meetings in Washington D.C.

Here's how the U.S. Stock Market closed Friday after a volatile week:

Dow Jones Industrial Average (DIA): -0.59% or 159.72 points

NASDAQ Composite Index (QQQ): -0.80% or 65.21 points

S&P 500 Index (SPY): -0.49% or 14.72 points

U.S. and Chinese trade officials met in Washington D.C. Thursday and Friday in person for the first time in months. President Donald Trump has announced that he does not believe that it is important for U.S. and China to have a trade agreement before the 2020 election. Higher-level trade negotiations are still scheduled to take place in October.

In Federal Reserve news, Friday the New York Federal Reserve added another $75 billion into the financial system in a fourth overnight repo transaction this week. This decision is to help bring interest rates back within the new set range of 1.75% and 2.00% that was announced earlier this week. The New York Fed also announced that these repo operations will continue through October 10.

In sector news, U.S. Industrial and Consumer Discretionary sectors have been negatively affected by the trade uncertainty with Chinese trade officials not visiting the U.S. farm belt Friday. Information Technology also took a dip of -0.81% as investors begin to react to trade tensions further.

In oil news, oil prices seem to have stabilized at the end of the week. Prices have been heavily affected by the Saudi Arabian oil attacks, which lead to a skyrocketing of prices earlier in the week. On Friday, crude oil futures have lowered from their Monday and Tuesday rates, with prices being set at $58 per barrel. Brent crude oil futures have also lowered at the end of the week, settling around $64 per barrel Friday. It seems that oil prices are on their way to return to pre-attack rates as Saudi Arabia expects to be back to normal production by the end of the month.

Monday's market summary will continue to follow the trade war tensions and how the U.S. market responds.