Is there a reason that is done, beyond just tradition? I’m genuinely very curious whether there’s a positive, negative, or negligible impact on economic decision making

There are several reasons. Most obviously it's because the markets are closed which keeps immediate panic from affecting stock prices. It's also at the start of the weekend so the idea is that people might be more focused on weekend activities instead of the news. Also, news coverage on the weekend is often reheated stories written during the week meaning that a Friday story is less likely to get picked up.