Market Wrap-Up

After starting the week on an up note, the stock market ended the recent five trading sessions with a big thud. Investors got spooked Thursday and Friday by gloomy Congressional testimony by Federal Reserve Chairman Ben Bernanke, weak economic data that stirred recession fears and disappointing earnings from prominent firms like

AIG

Dell

Winners

Oil went over $103 a barrel and gold touched $974 an ounce. Both were all-time-high price levels. That translated into big gains for commodity ETFs. On Friday, the

iPath Dow Jones-AIG Nickel exchange-traded note

iShares Silver

PowerShares DB Silver

Losers

After a brief rally earlier in the week, poor economic growth data and dismal earnings results from

Toll Brothers

iShares Dow Jones U.S. Home Construction ETF

Regional Bank HOLDRS

SPDR KBW Bank

The Week's Major Industry Headlines

Stamp of Approval

PowerShares received SEC approval to launch the industry's first actively managed ETFs. Read our recent

story

on these new-fangled ETFs. Also: State Street announced it filed with the SEC to get approval for actively managed target-date ETFs.

Morningstar announced it is broadening the scope of its ETF research. The company already offers a star rating for ETFs. However, a new "valuation" rating will be a forward-looking gauge of whether an ETF is trading at a fair value.

Homework Made Easy

The

(

) started trading on the American Stock Exchange. Victoria Bay Asset Management, the parent company, also runs the

(

), the

(

) and the

(

).

Gas UpUnited States Gasoline fundUnited States Oil fundUnited States Natural Gas fundUnited States 12 Month Oil ETF

Vanguard announced a nearly 10% reduction in the fees on its

(

),

(

),

(

),

(

) and

(

) ETFs. It also announced Jack Brennan was stepping down as chief executive officer. He'll relinquish that title to 22-year company veteran William McNabb. Brennan will stay on as chairman of the board. Brennan was instrumental in launching the company's ETF franchise.

Cheaper Fees, New BossGrowthValueSmall Cap GrowthSmall Cap ValueEurope Pacific

Next Week's Notebook

Be prepared for another chaotic week, with commodities leading the way. (OPEC meets in Vienna, Austria, on Wednesday.) But consumer-oriented ETFs could also be in play. Retailers Chico's FAS, Kenneth Cole, Staples, Big Lots, Saks and Costco report earnings next week.

Earnings

Monday: HSBC, LeapFrog

Tuesday: Chico's FAS, James River Coal, Kenneth Cole, Provident Financial, Staples

Wednesday: Big Lots, B.J.'s Wholesale, Costco, H&R Block, Neiman Marcus, Saks

Thursday: Joy Global, Korn Ferry, Marvell Technology, National Semiconductor, Urban Outfitters

Friday: Ciena, Veolia Environmental

Economic Data

Monday: Construction Spending (10 a.m.), ISM Index (10 a.m.)

Tuesday: Auto Sales (12 a.m.), Truck Sales (12 a.m.)

Wednesday: ADP Employment (8:15 a.m.), Productivity (8:30 a.m.), Factory Order (10 a.m.), Beige Book (2 p.m.) OPEC Meeting

Thursday: Initial Claims (8:30 a.m.)

Friday: Nonfarm Payrolls (8:30 a.m.), Unemployment (8: 30 a.m.), Consumer Credit (3 p.m.)