Stocks Ended Lower Friday, but Dow Posted Best Weekly Gain in 82 Years

U.S. stocks ended lower on Friday, but the Dow notching its best weekly gain since 1938, as President Donald Trump was set to sign into law an important coronavirus rescue package. The Dow Jones Industrial Average fell 915.39 points, or 4.06%, to 21,636.78. The S&P 500 declined 88.60 points, or 3.37%, to 2,541.47. The Nasdaq Composite lost 295.16 points, or 3.79%, to 7,502.38. For the week, the Dow booked a gain of 12.8%, the S&P 500 notched a weekly gain of 10.3% and the Nasdaq Composite booked a 9.1% weekly gain.

Oil futures fell Friday, with the slowdown in energy demand sending prices down for a fifth straight week. May West Texas Intermediate oil fell $1.09, or 4.8%, to settle $21.51 a barrel on the New York Mercantile Exchange after trading as low as $20.88. For the week, prices fell nearly 5%.

The House of Representatives approved a $2 trillion coronavirus stimulus package to help the U.S. economy cope with the coronavirus pandemic on Friday.