Stocks Ended Mostly Lower on Fears of Rising Virus Cases

U.S. stocksgave up strong early gains and ended mostly lower on Friday, as the World Health Organization signaled that the pandemic is entering a new phase,highlighting that the epidemic may be intensifying in places. The Dow Jones Industrial Average fell 208.64 points, or 0.56%, to 25,871.46. The S&P 500 declined 17.60 points, or 0.56%, to 3,097.74. the Nasdaq Composite added 3.07 points, or 0.03%, to 9,946.12. For the week, the Dow is up around 1.4%, the S&P 500 gained 2.1%, and the Nasdaq rose 3.6%.

Oil futures on Friday settled higher for the session, with U.S. prices up nearly 10% for the week as OPEC members and allies tightened the reins on output cuts and some signs of improvement in the global economy brightened the outlook for energy demand. West Texas Intermediate crude for July delivery climbed 91 cents, or 2.3%, to settle at $39.75 a barrel and rose 9.6% for the week. Brent oil for August delivery added 68 cents, or 1.6%, to $42.19 a barrel and advanced 8.9% for the week.