Stocks jumped on Friday, as investors looked to shake off losses from earlier this week. The Dow Jones Industrial Average rose over 465 points, while the S&P 500 Index and Nasdaq Composite gained 2.4% and 3.8%, respectively.

All sectors on the S&P 500 were higher on Friday, led by gains in Consumer Discretionary (XLY  ) and Information Technology (XLK  ). Dow-components American Express (AMEX  ), Nike (NKE  ) and Salesforce (CRM  ) also climbed over 3%, pushing the Dow higher. Tech stocks also jumped, with Meta Platforms (FB  ), Apple (AAPL  ) and Alphabet (GOOG  ) adding 3%, boosting the tech-heavy Nasdaq.

Despite the session gains, benchmarks are on track for another week of losses. The Dow is down more than 7% and is set to post its first 7-week losing streak since 2001. The S&P 500 is also 2.5% lower for the week, while the Nasdaq is about 3% lower.

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

S&P 500 Index (SPY  ): +2.39% or +93.78 points to 4,023.86

Dow Jones Industrial Average (DIA  ): +1.47% or +465.64 points to 32,195.94

Nasdaq Composite Index (QQQ  ): +3.82% or +434.04 points to 11,805.00

United reaches deal with pilot union:

United Airlines (UAL  ) and its pilot's labor union have reached an agreement on new contract terms, making the carrier the first major U.S. airline to do so since the start of the coronavirus pandemic.

"United Airlines was the only airline to work with our pilots union to reach an agreement during COVID," CEO Scott Kirby said in a LinkedIn post on Friday. "It's not surprising that we are now the first airline to get an Agreement in Principle for an industry leading new pilot contract."

United and the Air Line Pilots Association did not disclose the terms of the deal at this time, and the agreement is still subject to a union vote and a vote by pilots.

Consumer sentiment falls to decade low in early May:

The University of Michigan's consumer sentiment index preliminary reading for May fell to 59.1, according to the institution's report published Friday, declining from April's print of 65.2. Friday's report market the index's lowest reading since 2011.

"These declines were broad based--for current economic conditions as well as consumer expectations, and visible across income, age, education, geography, and political affiliation--continue the general downward trend in sentiment over the past year," said Joanne Hau, director of the Surveys of Consumers, in a press statement. "Consumers' assessment of their current financial situation relative to a year ago is at its lowest reading since 2013, with 36% of consumers attributing their negative assessment to inflation."

Here's how benchmarks started trading after market open:

S&P 500 Index: +1.10% or +43.33 points to 3,973.41

Dow Jones Industrial Average: +0.76% or +241.55 points to 31,971.85

Nasdaq Composite Index: +1.67% or +189.64 points to 11,560.61