Stocks managed to hold on to their weekly gains on Friday, as Wall Street digested mixed economic signals and updates from the retail sector. The major indexes recorded their third-straight win for the week, although they dipped slightly into the red during the trading session.

The S&P 500 inched higher by 0.13%, while the Dow Jones Industrial Average finished just above the flatline. The tech-heavy Nasdaq Composite rose by about 0.08%.

Investors drew momentum from a midweek rally fueled by growing belief that the Federal Reserve may ease back on interest rate hikes. Softer inflation and jobs data suggested that the central bank's tightening measures have finally started to impact the US economy.

Retail updates also provided insight into the state of consumer spending. Gap gave a bleak forecast for holiday sales in its earnings report, joining Walmart and Target in warning of a potential decline in consumer spending during the crucial shopping season.

Oil prices also fell into a bear market, indicating a potential slowdown in the economy. West Texas Intermediate crude and Brent crude experienced losses for the overall week after touching their lowest levels in nearly four months. The upcoming OPEC+ meeting later in November will be closely monitored for any potential impact on oil prices.

Meanwhile, Alibaba's decision to abandon the spin-off of its cloud division drew attention to the struggles faced by the Chinese e-commerce giant. The company's shares sank in New York, wiping out more than $20 billion in market value. Alibaba attributed the decision to Washington's chip curbs, highlighting the ongoing tensions between the US and China.

Looking ahead, the week ahead will bring earnings reports from major companies such as Nvidia, which will provide fresh data on the state of the AI industry. Retail market observers will also be analyzing forecasts from companies like Lowe's, Dick's, and Best Buy to gauge the health of the retail sector. Additionally, the release of the Fed's policy meeting minutes will offer further insight into the thinking of US central bankers.

Optimism of a "soft landing" for the economy is growing, with indications that inflation is cooling and the jobs market is stabilizing. However, concerns remain about the potential tightening of financial conditions as the Fed's higher interest rates policy may slow down business activity. The possibility of a recession is still a point of debate among economists.

In the tech sector, the Nasdaq Composite has surged around 10% so far this month, with analysts suggesting there is room for further growth in an end-of-year rally. Tech giants like Apple, Microsoft, and Google are expected to lead the charge higher as the focus on AI and cloud technologies continues to expand.

In the afternoon trading session, ChargePoint, Ross, Gap, and BJ's Wholesale Club were among the trending stocks on Yahoo Finance's radar. ChargePoint experienced a significant drop after releasing preliminary third-quarter results, while Ross saw a rise in shares due to better-than-expected quarterly results. Gap surged after reporting strong earnings, and BJ's Wholesale Club faced a decline in shares after reporting weaker-than-expected sales.

Overall, despite a mixed start to the trading session, stocks held on to their weekly gains, reflecting the market's digestion of economic signals and retail updates. The performance of key sectors like technology and retail will continue to be closely monitored in the weeks to come.