Wall Street ended not far from Thursday's market moves on Friday, as investors weighed increasing U.S.-China tensions and the uncertain timeframe for economic recovery with optimism around potential vaccines. However, major indices still ended the week with gains, with the Nasdaq leading at 3.4%, the Dow adding 3.3% and the S&P 500 climbing 3.2%.
This week had casted new uncertainty towards the future of the U.S.-China trade deal as both sides continue to wage threats. On Friday, the U.S. Commerce Department said is will add 33 Chinese companies and institutions to an economic blacklist for human rights violations and U.S. national security concerns.
Here's how the stock market closed for the week:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
In Major Stock News, Alibaba
In Stock Sector News, sectors ended Friday's season in a mixed bag of gains and losses. The performance gains were as follows: Real Estate +2.21%, Utilities +1.14%, Communication Services +0.45%, Information Technology +0.42%, Consumer Staples +0.33% and Health Care +0.19%. The rest that ended trading on the negative side: Energy-0.67%, Financials -0.26%, Materials -0.17%, Consumer Discretionary -0.14% and Industrials -0.11%.
In Commodity and Currency News, West Texas Intermediate
The stock market will be closed on Monday for United States Memorial Day holiday. Trading will resume on Tuesday.