Stocks closed Friday mostly flat as the week long post-election rally came to an end. Market participants were looking for direction as the ultimate result of the U.S. presidential election is still unknown. However, sentiment was encouraged by better-than-expected U.S. October jobs data.

As the Wall Street tends to do, market indices ended the week higher following an extended post-election rally. The S&P 500 and Nasdaq jumped 7.3% and 9%, respectively, as investors poured cash into stocks. The Dow Jones also gained 6.9% this week, as all three market benchmarks saw their best weekly gains since April. Moreover, the S&P posted its best election week gain since 1932.

For now, investors are betting that Democratic challenger Joe Biden will become the next president of the United States, while Republicans will remain in control of the Senate and Democrats the House. This type of legislative power dynamic may harm Biden's political agenda and keep coronavirus fiscal stimulus spending at the minimum.

Meanwhile, the U.S. added 638,000 jobs in October, soaring above economist expectations, bringing the unemployment rate to 6.9%. The numbers compare to 661,000 jobs created in September and an unemployment rate of 7.9%.

Here's how the market settled to close out the week:

S&P 500 Index (SPY  ): -0.03% or -0.98 points to 3,509.47

Dow Jones Industrial Average (DIA  ): -0.24% or -66.78 points to 28,323.40

Nasdaq Composite Index (QQQ  ): +0.40% or +4.30 points to 11,895.23

For Major Stocks News, T-Mobile (TMUS  ) reached an all-time high on Friday following its third quarter earnings beat. Marijuana stocks continued their post-election rally on Friday as several U.S. states voted to legalize cannabis for recreational or medical use. Aurora Cannabis (ACB  ) rose over 56%, while other industry leaders Canopy Growth (CGC  ) and Tilray (TLRY  ) gained over 10%. Industry stocks Aphria (APHA  ), Cronos Group (CRON  ) and ETFMG Alternative Harvest ETF (MJ  ) also made gains on Friday.

For Sector Performance, sectors on the S&P ended Friday's session mixed as the market looked for direction amid uncertain presidential election results. Consumer Staples (XLP  ), Information Technology (XLK  ), Materials (XLB  ), Health Care (XLV  ) and Industrials (XLI  ) eked out small performance gains. Energy (XLE  ) fell over 2% amid heightened demand concerns, while the rest of the sector fell less than 1%.

For Commodities and Currency, the U.S. Dollar (UUP  ) fell on Friday as ballot counting for the U.S. presidential election continued and investors predicted more losses for the greenback. The dollar index sank to 92.274 against other global currencies, dropping over 1% for the week. Gold (GLD  ) prices rose on the falling dollar as the chance of a Biden victory boosted hopes for a larger coronavirus relief bill. Spot gold increased 0.1% to $1,950.12 per ounce, while gold futures settled 0.5% higher at $1,955.50 per ounce. Crude oil futures fell below $40 per barrel as the election dragged on and new lockdowns in Europe reignited demand concerns. International benchmark Brent Crude (BNO  ) dropped 3.7% to $39.41 per barrel, while West Texas Intermediate (USO  ) fell 4.3% to $37.14 a barrel.

For the week ahead, market participants will react to developing election news over the weekend.