Stocks on Wall Street fell from their gains on Friday, despite the U.S. House of Representatives passing the anticipated $2 trillion economic relief package the Senate passed on Thursday. Even with the positivity the bill's passages brought to investors, many were not able to shake off the early morning report that consumer sentiment had fallen the most since the 2008 financial criss in March. However, the gains made during the week set the Dow Jones Industrial Average to record that best weekly gain since 1938; the Dow gained 12.8%. The S&P 500 Index was not far behind, with a weekly gain of 10.3%.
Here's how the market closed for the week:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
In Major Stock News, shares of the restaurant chain Cheesecake Factory
In Stock Sector News, every sector besides Utilities, who rose +0.52%, saw major performance losses during Friday's sell off. The sector declines were as follows: Energy -6.93%, Information Technology -4.61%, Industrials -4.33%, Communication Services -4.09%, Materials -3.81%, Consumer Discretionary -3.37%, Financials -3.31%, Health Care -2.41%, Consumer Staples -0.72% and Real Estate -0.07%.
Lastly, in Commodity and Currency News, crude oil prices posted their fifth straight week of losses on Friday. West Texas Intermediate