ETFs Post Broad-Based Gains

Stocks took a bounce and turned it into a rally in Thursday trading after a parade of positive earnings results. Positive momentum kept driving shares, pushing up broad indexed exchange-traded funds. Dow component General Electric (GE) kept a high profile after being upgraded by Goldman Sachs (GS) to Buy from Neutral.

Major indexes faded off triple-digit gains at midday, but reversed back-to-back weak sessions as a new batch of earnings releases hit the markets. The Dow Jones Industrial Average closed up 84 at 9154. The Nasdaq picked up 17 points to rise to 1984 and the S&P 500 was up 12 to 987.

In corporate news, Sony (SNE) posted a smaller-than-expected loss and said it hopes to break even during the fiscal year. Exxon Mobil (XOM) earnigns fell 66% from the year-ago quarter, the Travelers Companies (TRV) raised its outlook even as earnings fell 21%, and MasterCard (MA) swung to a profit. Disney (DIS) reports after the close. For a detailed rundown on Thursday’s trading session see our market story. 

A pop in gasoline prices topped off shares of the United States Gasoline Fund (UGA), which rose 7.6%. The SPDR S&P Emerging Europe ETF (GUR) rose 5.5% as a bounce-back in emerging markets lifted a number of regional funds.

Thursday's big swing was bad news for the S&P 500 VIX Short-Term Futures Index fund (VXX), which fell 2.6%. Betting against the S&P 500 was the wrong call, as shares of the Short S&P 500 ProShares fund (SH) dropped 1.1%

Earnings and Conference Calls
Allergan, Anglogold Ashanti, AutoNation, Belo, Calpine, Chevron, Constellation Energy, DryShips, Eldorado Gold, HMS Holdings, ITT, Johnson Outdoors, Lafarge, MDC Holdings, NorthStar Realty Finance, Snap-on Inc., Washington Post Co., Weyerhaeuser

Economic Data
8:30 a.m. GDP
9:45 a.m. Chicago PMI

A look at how the industry's most popular ETFs did on Thursday: