Stocks Ended Higher Friday, but Posted Weekly Declines

U.S. stocks closed higher on Friday in choppy trading, as Wall Street attempted to recover from Thursday’s steep losses, but the three major indices posted their first weekly declines in a month as renewed concerns over rising coronavirus cases dampened optimism over a smooth recovery. The Dow Jones Industrial Average gained 477.37 points, or 1.90%, to 25,605.54. The S&P 500 added 39.21 points, or 1.31%, to 3.041.31. The Nasdaq Composite climbed 96.08 points, or 1.01%, to 9,588.81.

Oil futures settled at a modest loss on Friday, with U.S. and global benchmark prices suffering their first weekly decline in seven weeks on worries about oversupply and a resurgence of coronavirus cases in the U.S. West Texas Intermediate crude for July delivery fell 8 cents, or 0.2%, to settle at $36.26 a barrel. Brent oil for August delivery added 18 cents, or 0.5%, to end at $38.73 a barrel. For the week, WTI marked weekly slide of 8.3%, while Brent saw a decline of 8.4%.