Talks between the U.S. and Canada to revise the North American Trade Agreement concluded Friday afternoon with no pact between the pair of longstanding trade partners, according to a report by The Wall Street Journal. According to the report, President Donald Trump is expected to inform Congress of its intent to proceed with a bilateral agreement announcement on Monday with Mexico instead. Canadian Foreign Minister Chrystia Freeland is expected to host a news conference to discuss the outcome of those tense negotiations at 4:30 p.m. Eastern, according to the Canadian embassy. The Dow Jones Industrial Average DJIA, +1.33% , the S&P 500 index SPX, +1.59% and the Nasdaq Composite Index COMP, +2.26% offered a fairly muted response to the news about a breakdown in talks with less than half-hour to go in Friday's regular trading session. Some market participants have concluded that that subdued response suggests doubts that the two sides won't return to the table. An unnamed Trump administration official told CNBC that it isn't accurate to say that talks have "broken off."