First weekly loss in three for Wall Street

U.S. crude futures rose 2.7% to settle at $16.94 per barrel, amid hopes the U.S. will reduce some of its production to account for shrinking demand and storage capacity. Stocks also got a boost after Reuters reported that a U.S. government-led trial of remdesivir was running ahead of schedule. The report said those results could be ready by mid-May, with preliminary numbers possibly out earlier.

Boeing shares dropped 6.36% on news the airplane maker was delaying the return of the 737 Max. The company is also reportedly cutting 787 Dreamliner production in half. Those losses were offset in part by a 2.89% climb in Apple shares.

The Federal Reserve will hold its next monetary policy meeting next week. Earnings from Facebook, Amazon and Alphabet are set to report earnings.

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