ETFs Finish Broadly Higher With Market Rally

Stocks had another strong showing Friday as consumer names pushed the Dow up 2.2% and boosted the Nasdaq 2.5% for the week. Almost all ETFs that don't bet against the market finished in positive territory.

The Dow Jones Industrial Average picked up 36 points Friday to close at 9820. The Nasdaq climbed 6 to finish at 2133, and the S&P 500 rose 3 to 1068.

"Now that we've seen that Armageddon didn't happen, there's a massive re-evaluation of risk, said Brian Peardon, an advisor at Harrison Financial Group in Citrus Heights, Calif. "Right now, there's no direction in the market, and we're really waiting to see which sector is going to break out as a leader." He said basic materials and technology are likely sectors but that they haven't shown any substantial catalysts for growth.

Procter & Gamble (PG) was the biggest gainer among the Dow components, following an upgrade by Citigroup (C) to Buy from Hold. For a detailed rundown on Friday’s trading session see our market story. 

The United States Natural Gas fund (UNG) rose 13.5% for the week on rising natural gas prices and anticipated increased energy demand. The iShares Cohen & Steers Realty Majors Index fund (ICF) rose 11.6% for the week on encouraging economic data and a Friday upgrade of the housing sector by J.P. Morgan (JPM) analysts.

The iPath Exchange Traded Notes S&P 500 VIX Short-Term Futures Index fund (VXX), which replicates the Chicago Board Options Exchange Volatility Index, shed 5.4% for the week after a midweek pause in the rally threw off momentum. The iShares Barclays TIPS Bond fund (TIP) was pushed to a 0.3% slide for the week as investors moved away from conservative investments and embraced the stock rally.

Data Point
The United States Natural Gas fund (UNG) said Friday it would resume issuing shares of the fund effective Sept. 28 following permission from the Securities and Exchange Commission. The new shares should alleviate some of the price distortions that kept shares from correlating closely with actual natural gas prices. Alameda, Calif.-based USCF, which runs a family of commodity funds, sought permission to issue new shares in June. The fund charges an annual expense ratio of 0.97%.

Launching Pad
Van Eck Global plans to launch a Market Vectors Junior Gold Miners exchange-traded fund that will invest in small to midcap gold and silver miners in the U.S. and abroad. Its latest Securities and Exchange Commission filing said that it plans to invest at least 80% of the fund in companies on its Market Vectors Junior Gold Miners Index, market capitalization of anywhere from $190 million to $1.25 billion, with an average capitalization of $560 million. It did not list a ticker or a scheduled launch date.

State Street (STT) Global Advisors unit announced the Thursday launch of the SPDR Wells Fargo Preferred Stock fund (PSK), which began trading on the New York Stock Exchange. The fund seeks to replicate the Wells Fargo Hybrid and Preferred Securities Aggregate Index, which is comprised of nonconvertible preferred securities. Its annual expense ratio is 0.45%.

The Dow Jones Emerging Markets Financial Titans Index fund (EFN) began trading Wednesday on the New York Stock Exchange. The fund replicates the performance of the Dow Jones Emerging Markets Financial Titans 30 Index, which includes 30 of the largest emerging markets financial companies in banking, life insurance and non-life insurance, real estate investment and services, and financial services. The top five markets last week, with their respective weightings, are currently China (39.71%), Brazil (22.88%), India (13.21%), South Africa (9.25%), and Malaysia (3.96%).

Earnings and Conference Calls

Monday
Diedrich Coffee, Lennar

Tuesday
AAR, CarMax, Carnival, ConAgra Foods, FactSet Research Systems, Financial Federal Corporation, FreightCar America, H.B. Fuller, Progress Software, Versar

Wednesday
AutoZone, Bed Bath & Beyond, Comtech Telecommunications, General Mills, Paychex, Red Hat

Thursday
3Com, American Greetings, Analogic, Christopher & Banks, Finish Line, LightPath Technologies, McCormick, Media Sciences International, Neogen, Research In Motion, Rite Aid, Scholastic, Spectrum Control, Steelcase, United American Healthcare, Vail Resorts

Friday
AZZ, KB Home, Qualstar

Economic Data

Monday
10:00 a.m. Leading Indicators

Tuesday
7:45 a.m. ICSC-Goldman Store Sales
8:55 Redbook
10:00 a.m. FHFA House Price Index

Wednesday
7:00 a.m. MBA Purchase Applications
10:30 a.m. EIA Petroleum Status Report
2:15 p.m. FOMC Meeting Announcement

Thursday
8:30 a.m. Jobless Claims
10:00 a.m. Existing Home Sales
10:30 a.m. EIA Natural Gas Report

Friday
8:30 a.m. Durable Goods Orders
9:55 a.m. Consumer Sentiment
10:00 a.m. New Home Sales