Local shares edged higher by 1.7% last week, adding to recent gains. Although trade tension weighed on the market at various points throughout the week, investors flocked to the iron ore miners, as well as travel-related stocks, energy shares and several consumer discretionary businesses. The ASX 200 finished the week on 5,497 points, having earlier touched a 10-week high.

Which shares excelled?

Lynas Corporation (ASX: LYC) was one of the best-performing shares last week, climbing 21.8%. The rare earths miner was the beneficiary of a positive broker update, which slapped a price target of $3.80 on the stock.Super Retail Group (ASX: SUL) rose 16.6%, despite no price-sensitive news. With its portfolio comprising a suite of retail brands, some shareholders may be taking confidence from the economy reopening. AP Eagers (ASX: APE) enjoyed a similar bounce, with trade set to pick up for the automotive retailer dealerships across the country. Shares in APE advanced 15.9% across the week.As discussion around border openings increases, there was also prominent investing in shares related to travel and tourism. Webjet (ASX: WEB) surged 15.8%, Flight Centre (ASX: FLT) lifted by 12.9%, and Corporate Travel Management (ASX: CTD) increased 11.9%.Another segment on the move was the energy sector. There was widespread investing in shares like Oil Search (ASX: OSH), Beach Energy (ASX: BPT) and Santos (ASX: STO). Despite a Friday sell-off, each of these shares leapt by more than 10% last week. The move came on the back of strength in the price of oil. The most-recent WTI futures contract expired above US$30, a very different proposition to a month ago where it went negative.At the smaller end of the ASX 200, NRW Holdings (ASX: NWH) and Nearmap (ASX: NEA) performed strongly. Shares in NWH soared 31.3% thanks to a trading update where the company reported record revenue and $177m in EBITDA. Nearmap move corresponded with no news, however, it previously flagged an update would likely be due in late May.A selection of other stocks that fared well last week include Worley (ASX: WOR), up 14.6%, Stockland (ASX: SGP), up 13.7%, Sims (ASX: SGM), up 13.4%, EML Payments (ASX: EML), up 12.7%, Seek (ASX: SEK), up 10.6%, and BHP (BHP), up 8.4%.

Which shares dragged on the market?

Continuing its disastrous run, Unibail-Rodamco-Westfield (ASX: URW) touched a new all-time low last week. The global shopping centre giant slumped 7.9% to a share price of $3.49. While economies are slowly reopening around the world, investors may be concerned around how many retailers, particularly brick-and-mortar retailers, will be able to make it through the economic downturn. Shares in URW are now down 69% in the last year.Also faring poorly last week was NIB Holdings (ASX: NHF), which shed 6.5%. It comes after the government released data indicating many Australians have ditched private health insurance in recent weeks. In particular, many young Australians have cancelled their policies. Shareholders will also be mindful this data is from Q1, whereas much of the impact from COVID-19 has followed since.Utilities stocks were caught in the crossfire of risk-tolerant investors who were investing in shares in other growth-oriented sectors. As a result, AusNet Services (ASX: AST) and Spark Infrastructure (ASX: SKI) were among last week worst-performing shares. By the end of the week AusNet had declined 6.4%, while Spark Infrastructure lost 5%.In a similar fashion, there was also some rotation of capital out of defensive health stocks. This meant ASX stalwarts like ResMed (ASX: RMD), CSL (ASX: CSL) and Fisher & Paykel Healthcare (ASX: FPH) drifted lower by around 3-4%.Finally, there was disappointing news for shareholders in Fletcher Building (ASX: FBU). Noting the significant impact of COVID-19 in a trading update, management reported an EBIT loss of ~$55m for April. While the construction sector has reopened in New Zealand, trading is below forecast revenue. Residential consents and approvals are expected to slump in FY21 across the ANZ region. Shares in FBU dropped 4.8%.

This week trading outlook

ASX futures are pointing to a sharp opening jump for the local market when trading resumes Monday morning. It comes after US markets clawed back their losses during Friday evening final session before a long weekend. Tension between the US and China is likely to occupy headlines this week.The majority of economic data in the week ahead relates to the US. Private sector credit and industrial profits will be the only major news from Australia and China respectively. The United States, however, will publish data including but not limited to home sales and prices, durable goods orders, personal income and spending data, plus a second reading for Q1 GDP.For investors' intent on investing in shares trading ex-dividend this week, there are a few names to remember. Elders (ASX: ELD) trades ex-dividend on Monday, followed by Amcor (ASX: AMC) on Wednesday, and lastly, Orica (ASX: ORI) and Technology One (ASX: TNE) on Thursday.Iron ore stocks are also likely to be in focus with the price of the commodity nearing US$100 a tonne last week. Miners like BHP, Fortescue Metals (ASX: FMG) and Rio Tinto (ASX: RIO) all performed strongly. In the case of FMG, the stock reached an all-time high.Meanwhile, companies leveraged to online shopping like Kogan (ASX: KGN) and Afterpay (ASX: APT) continue to attract demand, with each stock notching up personal records last week.Last but not least, amid a tough market for new listings, one stock will ipo this week.  InteliCare (ASX: ICR) will make its ASX debut on Monday after raising $5.5m. The aged-care technology provider has already announced an order for its new radar sensors from the WA government.

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