Wall Street ended a jampacked week little changed as a selloff in health care stocks countered broad gains elsewhere. 

The S&P 500 lost 0.13% and the Dow Jones Industrial Average declined by 0.10%, while the Nasdaq was flat. Utilities, telecom, and non-cyclical consumer goods stocks were the best performers on Friday. 

Amgen  (AMGN - Get Report) slumped 6% after its cholesterol drug showed weaker results than anticipated. Repatha reduced the risk of heart attacks, strokes and other heart-related health problems by 15% compared to a placebo, according to results from a highly anticipated clinical trial. Investors were expecting Repatha to show a cardiovascular risk reduction of 20%-22%.

Health care was the worst performing sector on markets Friday. Industry leaders including Eli Lilly (LLY - Get Report) , Bristol-Myers Squibb (BMY - Get Report) , Biogen (BIIB - Get Report)  and Regeneron Pharmaceuticals (REGN - Get Report) fell, while the Health Care SPDR ETF (XLV - Get Report) slid 0.52%. Biogen led health care losses on Thursday after a downgrade from Morgan Stanley.  

The week's highlights included a widely-anticipated interest rate hike from the Federal ReserveAlso this week, Donald Trump released his proposed budgets, which involved massive cuts funneled toward a $54 billion bump in military spending. 

Finance leaders from the G-20 convened for their two-day meeting Friday, the first G-20 meeting since Trump was elected president. Treasury Secretary Steven Mnuchin will be in attendance. Investors have sought clarity on what a Trump administration could mean for trade and currency policies, particularly given Trump blasted both on the campaign trail.

German Chancellor Angela Merkel visited the White House on Friday in what appeared at times to be a frosty reception. In a press conference following their meeting, Trump said NATO allies needed to "pay their fair share for the cost of defense." Trump has criticized Merkel's leadership in the past, particularly her refugee policies. Merkel's trip to Washington D.C. was delayed due to the Tuesday snowstorm in the northeast.

Sole Fed dissenter Neel Kashkari backed up his decision to vote against an interest rate hike in March, arguing that the inflation outlook remained unchanged since the January meeting. "Not much has changed since the last FOMC meeting," the Minneapolis Fed president said in a statement.

The Fed decided to raise the federal funds rate by 25 basis points to 0.75% to 1% following its March meeting on Wednesday, the third increase since 2008. The Fed forecast two more rate hikes in 2017, in-line with its previous forecasts and as markets anticipated.

The number of active oil rigs in the U.S. climbed for the ninth week in a row, according to Baker Hughes data. Active oil rigs rose by 14 to a total 631 in the past week.

Crude oil prices have had a rough week, tumbling to their lowest level of the year on worries over domestic and global stockpiles. Prices were under pressure earlier in the week after the Organization of Petroleum Exporting Countries raised its forecasts for non-member output this year and the International Energy Agency said global oil supplies increased last month.

West Texas Intermediate crude was little changed, settling at $48.78 a barrel on Friday.

"The petroleum markets seem to have settled into a new consolidation range, having stabilized after its March 8-14 drop, but resting at the lower levels rather than staging a more confident upward correction," Tim Evans, energy futures specialist at Citi, wrote in a note. 

Consumer sentiment ticked up slightly in March, according to a preliminary reading of the University of Michigan consumer sentiment index. The reading improved to 97.6 in March from a final reading of 96.3 in February. Analysts anticipated the index to increase to 97.

Industrial production came in flat in February, falling short of estimates for an increase of 0.3%. Utilities output was the biggest drag, falling 5.7%, as a warm February tempered demand. Manufacturing output rose 0.5%, the sixth monthly increase in a row. 

Enterprise software firm MuleSoft (MULE) rocketed higher by nearly 40% in its market debut Friday. The company opened on the New York Stock Exchange at $24.25 a share, well above its $17 initial public offering price. It finished the day at $23.75.

Adobe (ADBE - Get Report)  bested quarterly profit and sales estimates over its recent quarter. The software developer earned an adjusted 94 cents a share in profit, 7 cents above estimates. Sales of $1.68 billion came in higher than a target of $1.65 billion. Creative revenue, which accounts for its media software, increased 29% to $942 million, totalling 56% of total revenue. 

TheStreet's Jim Cramer, which owns Adobe in the Action Alerts PLUS portfolio, said the company, with its "marketing and monitoring and managing cloud products, has become the pure play on adoption of the cloud. So many think Adobe's Acrobat, but Adobe manages trillions of bits of data and really can be considered the way marketers try to reach people on the web and how artists express themselves across all platforms."

Tiffany & Co. (TIF - Get Report)  topped fourth-quarter estimates and provided better-than-expected guidance. The jewelry retail chain earned an adjusted $1.45 a share, higher than estimates of $1.39. Sales increased 1% to $1.23 billion, exceeding consensus of $1.22 billion. Same-store sales came in flat, though much better than an anticipated drop of 1.4%. Tiffany anticipates full-year adjusted earnings to improve in the mid-single-digit percentages.  

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