It was a rough week for investors as Greek fears and hopes gripped the markets. The major indices lost early gains to close the day in the red. All the major indices booked more than 1% losses for the week, while the Dow remains negative for the year.
Nine out of 10 S&P 500 sectors closed the week lower, with materials, energy and industrials as the biggest laggards. Utilities, consumer staples and consumer discretionary sectors came in as this week's biggest sector leaders.
The S&P energy sector index closed lower for its ninth consecutive week. This is the sector's longest losing streak ever.
On the heels of this losing streak, oil fell 4.5% this week following U.S. weekly reports showing an unexpected rise in crude supplies and 2015's first increase in the number of active oil rigs. Oil closed at $56.93 per barrel, which is good news ahead of this holiday weekend.