The broader market fell on Friday as Congressional lawmakers failed to pass additional coronavirus stimulus measures despite bipartisan support. While leaders have signalled that ongoing relief talks remain productive, issues that are preventing the bill's passage include direct payments, small business loans, and additional unemployment insurance. Congress is expected to pass the bill over the weekend.

Major market averages ended the week with gains, buoyed by positive sentiment brought by the continuous vaccine rally. On Thursday, the U.S. Food and Drug Administration's advisory panel recommended that the health regulator approve Moderna's (MRNA  ) coronavirus vaccine for emergency use.

The Dow ended the week 0.4% higher, while the S&P 500 climbed 1.3% for its fourth positive week in five. The Nasdaq outperformed amid increased near-term coronavirus uncertainty, surging 3.1% for the week.

Here's how the market settled to close out the week:

Dow Jones Industrial Average (DIA  ): -0.4% or -124.32 points to 30,179.05

S&P 500 Index (SPY  ): -0.4% or -13.07 points to 3,709.41

Nasdaq Composite Index (QQQ  ): -0.1% or -9.11 points to 12,755.64

For Stocks, Tesla (TSLA  ) shares rose to an all-time high ahead of the electric carmaker's inclusion in the S&P 500 before market open on Monday. With a market capitalization of more than $600 billion after rallying over 700% this year, Tesla will become the seventh largest company on the index and is the largest ever to be added. Intel (INTC  ) shares slumped in late afternoon trading following a Bloomberg News report that Microsoft (MSFT  ) was planning to develop its own chips.

For Sector Performance, sectors on the S&P ended mostly lower amid Friday's broader market slump, with only Materials (XLB  ), Consumer Staples (XLP  ), Health Care (XLV  ) and Industrials (XLI  ) closing in positive territory. The session's biggest losers were Real Estate (XLRE  ) and Energy (XLE  ), both declining over 1%.

For Commodities and Currencies, the U.S. Dollar (UUP  ) rose on Friday ahead of the year's end despite prolonged stimulus negotiations and worrying economic data. The dollar index, which tracks the greenback against other global currencies, rose 0.17% to 89.9840. Bitcoin's valuation was pressured on Friday, with the cryptocurrency falling slightly lower but still holding at record highs of about $23,000. Gold (GLD  ) prices fell on the strengthening dollar, but losses were capped by continued optimism towards additional fiscal stimulus despite long delays. Spot gold declined 0.1% to $1,883.39 per ounce, while U.S. gold futures settled 0.1% lower at $1,889.30 per ounce. Crude oil futures climbed to a nine-month high on Friday as investors were encouraged by ongoing vaccine optimism, ignoring surging global coronavirus cases. International benchmark Brent Crude (BNO  ) rose 1.48% to $52.26 per barrel, while domestic benchmark West Texas Intermediate (USO  ) settled 1.53% higher at $49.10 each.

For the week ahead, market participants will trade based on whether or not Washington lawmakers pass a stimulus bill ahead of the holiday season. Next week is a shortened trading week, with markets closing early on Thursday and remaining closed throughout Friday for the respective Christmas Eve and Christmas holidays.