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Most actively traded stocks include Bank of America (BAC) down 1.33%, AT&T (T) up 2.5%, Freeport-McMoRan (FCX) down 9.09%, Vale (VALE) down 4.17%, Sprint (S) lower by 7.9% and Apple (AAPL) down 0.83%.

The S&P 500, Dow and NASDAQ are all significantly lower over the last five trading days.

Crude oil futures are significantly lower this week, trading at $48.29 per barrel on Friday afternoon.

And Gold futures are lower this week, trading at $1098.44 an ounce this afternoon.

In economic news, in the week ending July 18, the advance figure for seasonally adjusted initial claims was 255,000, a decrease of 26,000 from the previous week's unrevised level of 281,000. This is the lowest level for initial claims since November 24, 1973 when it was 233,000. The 4-week moving average was 278,500, a decrease of 4,000 from the previous week's unrevised average of 282,500. There were no special factors impacting this week's initial claims. The advance seasonally adjusted insured unemployment rate was 1.6 percent for the week ending July 11, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending July 11 was 2,207,000, a decrease of 9,000 from the previous week's revised level. The previous week's level was revised up 1,000 from 2,215,000 to 2,216,000. The 4-week moving average was 2,253,750, a decrease of 10,500 from the previous week's revised average. The previous week's average was revised up by 250 from 2,264,000 to 2,264,250.

In corporate dividend news, Bank of America declared a regular quarterly cash dividend on Bank of America common stock of $0.05 per share, payable September 25 to shareholders of record as of September 4.

Comcast Corporation (NASDAQ:CMCSA) declared a quarterly dividend of $0.25 a share on the company's common stock. The quarterly dividend is payable on October 28, 2015 to shareholders of record as of the close of business on October 7, 2015.

The Charles Schwab Corporation has declared a regular quarterly cash dividend of $0.06 per common share. The dividend is payable August 21, 2015 to stockholders of record as of the close of business on August 7, 2015.

Apple has declared a cash dividend of $.52 per share of the Company's common stock. The dividend is payable on August 13, 2015, to shareholders of record as of the close of business on August 10, 2015.

Merck (NYSE:MRK) has declared a quarterly dividend of $0.45 per share of the company's common stock for the fourth quarter of 2015. Payment will be made on October 7, 2015, to shareholders of record at the close of business on September 15, 2015.

Johnson Controls (NYSE:JCI) has authorized a regular quarterly cash dividend of $0.26 per common share. The dividend is payable on October 2, 2015 to shareholders of record as of the close of business on September 4, 2015.

The Unum Group (NYSE:UNM) declared a quarterly dividend of $0.185 per share on its common stock to be paid on Aug. 21, 2015, to stockholders of record on July 31, 2015.

Johnson & Johnson (NYSE:JNJ) has declared a cash dividend for the third quarter of 2015 of $0.75 per share on the company's common stock. The dividend is payable on September 8, 2015 to shareholders of record at the close of business on August 25, 2015. The ex-dividend date is August 21, 2015.

And, Morgan Stanley (NYSE:MS) declared a $0.15 quarterly dividend per share payable on August 14, 2015 to common shareholders of record on July 31, 2015.

This is the 'Weekly Market Wrap' for Friday July 24, 2015.

Please join us on Monday for the Week Ahead Market Report.

For MarketNewsVideo.com, I'm Sayoko Murase.