Marking the second week in a row where the market found some support, the ASX advanced higher last week. The move came thanks to a sharp leap in shares at the start of the trading week. Driving this was a record trading session on the back of details surrounding the government JobKeeper stimulus package. By the end of the trading week, the ASX 200 gained 4.6%, finishing the week on 5,067.5 points, with profit takers paring some of the index gains.

Which shares excelled?

In light of surging demand for its protective gear for medical personnel, Ansell (ASX: ANN) was one of the top-performing stocks across the market last week, gaining 25.9%. While other companies are withdrawing their earnings forecasts, Ansell reaffirmed its guidance to shareholders, proving that even in a downturn, certain companies can buck the trend.Oil stocks posted a strong rally on signs of a potential breakthrough in the feud between Russia and Saudi Arabia. Towards the end of the trading week, President Trump indicated that he was expecting a cease fire between the two oil-producing nations and a potential production cut up to 10 million barrels per day. With oil prices leaping, some of the winners were Beach Energy (ASX: BPT), Santos (ASX: STO), Woodside Petroleum (ASX: WPL) and Oil Search (ASX: OSH).Elsewhere, Vocus (ASX: VOC) shares leapt 19% higher, even though no news came out of the company quarters during the week. That performance was slightly ahead of the next-best placed stock, Nine Entertainment Co (ASX: NEC), which increased 18.1% following news that the business is seeing strong growth in audience and subscriber numbers, while also implementing cost initiatives in the wake of current economic conditions.Coca-Cola Amatil (ASX: CCL) rebounded strongly last week, with the stock moving higher by 15.4%. The company was a prominent beneficiary of Monday impressive rally, gaining 9.3% on that day alone. An upgrade by one of Australia leading investment banks helped underpin the move, with the company defensive qualities cited as a key reason.The week other major movers came from a diverse background, some of which were Whitehaven Coal (ASX: WHC), up 15.2%, Nextdc (ASX: NXT), up 14.4%, IDP Education (ASX: IEL), up 13.5%, Challenger (ASX: CGF), up 13.3%, and Stockland (ASX: SGP), up 12.7%.

Which shares dragged on the market?

Airport stocks were the hardest-hit companies last week, with both Sydney Airport (ASX: SYD) and Auckland International Airport (ASX: AIA) targeted by heavy selling. With air traffic all but drying up, it was unsurprising to see the stocks under pressure, notwithstanding the market broader gains. SYD shares fell 14.9%, while AIA shares tumbled 10.5%.Virgin Money UK (ASX: VUK) approached its all-time low from just a week prior, with the company shedding 9.9% of its market cap last week. With banks under pressure, the stock is one of those vulnerable to the global economic slowdown. In addition, a decision by the UK leading banks to scrap their dividend also weighed heavily on the company.With shopping centres, including those in Europe and the US seeing a marked downturn in business, Unibail-Rodamco-Westfield (ASX: URW) resumed its downtrending momentum. The stock was lower by 9.2%, with its outlook clouded amid an uncertain near-term trading environment.A guidance update from AngloGold Ashanti (ASX: AGG) sent its shares crashing lower by 9%, despite the price of gold firming throughout the trading week. In its update, the company reported that site shutdowns triggered by the pandemic are leading it to withdraw its market guidance, even though the anticipated operational impact has only been approximately 30,000oz to 40,000oz so far.Also caught up on the wrong side of the ledger were Alumina (ASX: AWC), down 8.3%, Metcash (ASX: MTS), down 8%, Seven Group (ASX: SVW), down 7.5%, as well as Qube Holdings (ASX: QUB) and Cromwell Property (ASX: CMW), both down 6.9%.

This week trading outlook

For the first time in several weeks, ASX futures are indicating a higher open for the local market on Monday morning, despite US unemployment readings signalling an economy that is deteriorating rapidly. The number of Coronavirus cases to emerge across the weekend could prove an impediment to a strong open for the market, with little respite in sight for the US and Europe.After a steady flow of data last week, there will be less on the agenda in the days ahead, however, it is likely that investors will still be scrutinising weekly jobless claims in the US.Locally, economists will have their eyes cast over the nation export and import activity from February, looking for early signs of the impact of the Coronavirus. However, the broader impact is not expected to show up until subsequent reports. February home loan data will also be released. The RBA is set to meet on Tuesday for its interest rate decision, while it will also release a financial stability review on Thursday.Iron ore stocks bounced strongly on Friday and even managed to hold up despite the broader profit taking throughout the trading session that pushed the index into negative territory. With the commodity finding some support amid a pick-up in activity in China, stocks like BHP (ASX: BHP), Rio Tinto (ASX: RIO) and Fortescue Metals (ASX: FMG) could underpin this week market activity.In addition, oil stocks could also find some favour if Russia and Saudi Arabia manage to agree to terms for a production cut. It also worth noting that in the coming weeks we will see a slew of updates from companies required to lodge their quarterly cash flow and activities reports.Also on the radar of investors will be Bank of Queensland (ASX: BOQ), with the company set to announce its half-year results this Wednesday, 8 April.This week list of companies trading ex-dividend will start with LICs WAM Research (ASX: WAX) and WAM Microcap (ASX: WMI), followed by Adelaide Brighton (ASX: ABC) and TPG Telecom (ASX: TPM), both of which trade ex-dividend on Thursday, 9 April.

We'll be back next week with another Weekly ASX Trading Wrap Up - until then, have a great week!