Wall Street came back to life on Friday as investors rallied around positive coronavirus treatment news for Gilead Sciences (GILD  ) and BioNTech (BNTX  ), breaking up the gloom of new infections and hospitalization rates market worries. Gilead's remdesivir was shown in a study published on Friday to be associated with improvements in clinical recovery and a 62% reduction in the risk of mortality when compared to standard COVID-19 care. BioNTech also announced that their potential vaccine is on a clinical trial schedule that could lead to approval in December.

All three market benchmarks ended Friday's session with gains, with the S&P 500 and Dow gaining over 1%. For the week, the Nasdaq led gains at over 4%, the S&P 500 was up 1.76% and the Dow increased 0.96%.

Here's how the market settled for the week:

S&P 500 Index (SPY  ) +1.05% or +32.96 points to 3,185.01

Dow Jones Industrial Average (DIA  ): +1.43% or +368.80 points to 26,074.89

Nasdaq Composite Index (QQQ  ): +0.66% or +69.69 points to 10,617.44

For Major Stock News, Airline stocks outperformed on Friday during the session's rally as coronavirus treatment sentiment hoped for a fast air travel demand recovery: American Airlines (AAL  ), Delta (DAL  ), Southwest (LUV  ), United Airlines (UAL  ). Tech stocks gave back some of their recent outperformance; Apple (AAPL  ), Amazon (AMZN  ), Google (GOOGL  ), Microsoft (MSFT  ). Carnival (CCL  ) shares gained following strong demand news for 2021. Tesla (TSLA  ) jumped over the $1,500 per share mark, leading to some speculation that it may join the S&P 500 soon.

For Stock Sectors, most industries joined in Friday's rally due to the restored market optimism. The only sectors that lagged behind were Health Care -0.22% and Information Technology -0.03%. The performance gains were as follows: Financials +3.48%, Energy +3.25%, Communication Services +1.96%, Utilities +1.90%, Consumer Staples +1.89%, Materials +1.75%, Industrials +1.29%, Consumer Discretionary +1.00% and Real Estate +0.17%.

For Commodities and Currency, crude futures increased on Friday following a positive 2020 demand forecast from the International Energy Agency. West Texas Intermediate (USO  ) climbed 2.3% to $40.55 per barrel, while Brent Crude (BNO  ) gained 2.2% to $43.25 each. Brent Crude ended the week relatively flat, while U.S. crude fell about 1%. Gold (GLD  ) values slipped on Friday as optimism reentered the market. Spot gold dropped 0.3% to $1,797.89 per ounce, while futures settled down 0.1% to $1,801.90. The commodity gained over 1% for the week. Finally, the U.S. Dollar (UUP  ) fell lower by 0.2% on Friday.

As the market heads into next week, market participants will begin to look at corporate earnings from major investment banks and tech giants like Netflix (NFLX  ).