Stocks rose during an afternoon trading rally to close out Friday's session with broader market gains despite overall uneasy sentiment about further U.S. fiscal stimulus and rising global coronavirus cases ushering in a second wave of lockdowns. The late gain sent pushed the Nasdaq to its first weekly increase in three weeks, with the index gaining 1.11%. The S&P 500 and Dow, however, continued their losing streaks, declining 0.63% and 1.75%, respectively.

The House is currently drafting a $2.4 trillion economic relief package that could be voted on soon. The package highlights on new enhanced unemployment benefits and stimulus for struggling airlines, but the large amount may hinder the bill's passing in the Senate.

Meanwhile, the Commerce Department's preliminary monthly report on U.S. durable goods orders rose only 0.4% in August, far below the expected rise of 1.5%. The slowdown in recovery followed an upwardly revised 11.7% increase in July.

Here's how the market closed for the week:

S&P 500 Index (SPY  ): +1.6% or +51.87 points to 3,298.47

Dow Jones Industrial Average (DIA  ): +1.34% or +358.71 points to 26,174.15

Nasdaq Composite Index (QQQ  ): +2.26% or +241.29 points to 10,913.56

For Major Stock News, cruise lines jumped following a Bullish stance from Barclays that forecasted that the worst is already over for the sector: Carnival (CCL  ), Norwegian (NCLH  ) and Royal Caribbean (RCL  ). Mega-cap tech shares rose with the broader market, but leaders of the Nasdaq 100 are slumping for the month: Amazon (AMZN  ), Apple (AAPL  ), Facebook (FB  ), Google (GOOGL  ), Microsoft (MSFT  ) and Netflix (NFLX  ). Nikola (NKLA  ) and Tesla (TSLA  ) both end their rough weeks a little higher, but shares have dropped 43% and 7.8%, respectively, for the week amid investment concerns.

For Sector Performance, every industry gained on Friday expect Energy, which lagged behind 0.07%. The sector performance gains were as follows: Information Technology +2.40%, Real Estate +1.96%, Health Care +1.65%, Utilities +1.61%, Consumer Discretionary +1.57%, Industrials +1.49%, Communication Services +1.27%, Financials +1.07%, Materials +0.80%, and Consumer Staples +0.41%.

For Commodities and Currency, the U.S. Dollar (UUP  ) continued its gaining streak as investors flooded into the greenback ahead of the slowing economic recovery and uncertainty surrounding the November U.S. presidential elections. The dollar index was up over 0.30% on Friday, measuring its biggest weekly gain in months. Gold (GLD  ) conversely fell as market participants ignored the "safe haven" metal for currencies. Spot gold dropped 0.2% to $1,864.39 per ounce, while gold futures settled 0.6% lower at $1,866.30 per ounce. The yellow metal declined over 4% for the week. Crude oil futures slightly dipped as renewed coronavirus concerns clouded demand outlook. International benchmark Brent Crude (BNO  ) settled slightly lower at $41.87 per barrel, while West Texas Intermediate fell 0.15% to $40.25 per barrel.

For the week ahead, the first presidential debate on Tuesday may sway the stock market as a clear winner could emerge. Friday's upcoming employment report for September will also be the last to release before the election.