Here's what happened to the stock market on Friday

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U.S.-China tensions flare up again
U.S.-China tensions flare up again

Dow Jones Industrial Average falls 8 points

The Dow gained/slipped 8.96 points, or 0.04%, to close at 24,465.16. The S&P 500 advanced 0.24% to 2,955.45. The Nasdaq Composite climbed 0.43% to 9,324.9. Stocks were mostly flat on Friday as Wall Street wrapped up a solid week of gains.

Best week for Dow since April

For the week, the Dow surged 3.29% to post its best weekly performance since April 9. The S&P 500 and Nasdaq also had strong gains this week. Wall Street got a boost this week from optimism around a potential coronavirus vaccine and the U.S. reopening its economy. On Friday, Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, told NPR that Moderna's vaccine data looked "promising." Facui later told CNBC's "Halftime Report" he is "enthusiastic" about the economy reopening. 

Chevron, Caterpillar and JPMorgan cap Dow

Chevron shares fell 1.91% on Friday and was among the worst-performing Dow stocks. Caterpillar and JPMorgan Chase slid 1.39% and 0.78, respectively.

What happens next?

U.S. markets will be closed on Monday for the Memorial Day holiday.

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