Closing Bell: Marriott, Starwood Shareholders Approve Merger

A massive rally in crude oil wasn't enough to push Wall Street to close out on a good note. Benchmark indexes gave back the day's gains by the final hour as a selloff in Gap (GPS) - Get Report shares hit the retail sector. Crude closed out the week with a daily gain of more than 6% after the number of active crude oil drilling rigs in the U.S. fell by eight to 354. The number of active drilling rigs has tumbled nearly 80% since hitting its peak in October 2014. Marriott (MAR) - Get Report and Starwood Hotels (HOT) were slightly higher after shareholders approved their proposed merger. A nearly unanimous 97% of Marriott shareholders approved the acquisition, while 95% of Starwood voters were in agreement.