Major indexes hit year-to-date highs Friday afternoon as investors reacted positively to stronger housing sales data and a key Fed speech that pointed to global stabilization.

Dedicated short-bias exchange traded funds using varying degrees of leveraged led the losers for the week, moving in the opposite direction to the market.

The Dow Jones Industrial Average climbed 156 points to close at 9506, a 1.7% gain, after earlier peaking at 9511. The Nasdaq was up 32 at 2021 and the S&P 500 rose 19 to 1026.

Investors were cheered by positive data on July existing-home sales, which rose 7.2%, the fourth monthly consecutive increase, according to the National Association of Realtors.

During a keynote speech in Jackson Hole, Wyo., earlier in the day, Federal Reserve Chairman Ben Bernanke said the global economy is approaching stability, but that economic recovery "is likely to be relatively slow at first, with unemployment declining only gradually from high levels."

"Since we last met here, the world has been through the most severe financial crisis since the great Depression," he said. "Critical challenges remain" in reaching a return to growth, he said, indicating the Fed will not be raising interest rates soon.

Oil hit $74.25 a barrel -- a 2009 high -- in the Friday session. For a detailed rundown on Friday s trading session see our market story.

Winners

The energy-weighted Market Vectors Russia fund climbed 9.1% for the week on surging energy prices, while the United States Oil fund rose 8.2%. The SPDR S&P Homebuilders fund climbed 6.2% on positive housing data.

Losers

The United States Natural Gas fund fell 9.1% for the week after it stopped issuing new shares and started trading more like a closed-end fund. The Short S&P 500 ProShares fund shed 4.1% for the week.

This Week s Industry News

Earnings Note

Launching Pad
Global X Funds launches its FTSE Nordic 30 fund Wednesday, offering a direct play on an index of major Scandinavian companies. It is the first ETF for Nordic names in the United States. The fund will charge an expense ratio of 0.5%.

ProFunds Group on Thursday launched a short-exposure ETF designed to replicate the inverse performance of long-term U.S. Treasury bonds. The ProShares Short 20+ Year Treasury seeks to provide the opposite results of the Barclays Capital 20+ Year U.S. Treasury Index. The fund has an expense ratio of 0.95%.

Earnings and Conference Calls

Monday
Accuray, Noah Education Holding, Winn-Dixie Stores

Tuesday
American Woodmark, Bank Of Montreal, Big Lots, Blue Coat Systems, Borders Group, Burger King, Burlington Coat Factory, Casual Male Retail Group, Chico's FAS, Dycom Industries, Hain Celestial Group, International Rectifier, Medtronic, Myriad Genetics, Sanderson Farms, Sbarro, Staples, TTI Telecom, Versant

Wednesday
Angeion, Canadian Imperial Bank of Commerce, Charming Shoppes, China National Offshore Oil Corporation, Coldwater Creek, Crossroads, DSW, eLong, Guangshen Railway, Guess, Jo-Ann Stores, Michaels Stores, Sigma Designs, Swiss Life, Tivo, Williams-Sonoma

Thursday
Bebe Stores, China Telecom, Conn's, Cost Plus, Dollar Financial, Energy Conversion Devices, Fred's, Genesco, Gerber Scientific, LaBarge, Magma Design Automation, Marvell Technology Group, Medicult, National Bank of Canada, Novell, Shoe Carnival, Solera Holdings, Titan Cement, Toll Brothers, Toronto Dominion Bank, Wind River Systems

Friday
Bank of Nova Scotia, China Unicom, Tiffany, Workstream

Economic Data

Monday
No major economic indicators.

Tuesday
7:45 a.m. ICSC-Goldman Store Sales
8:55 a.m. Redbook
9:00 a.m. S&P Case-Shiller Housing Price Index
10:00 a.m. Consumer Confidence
10:00 a.m. State Street Investor Confidence Index

Wednesday
7:00 a.m. MBA Purchase Applications
8:30 a.m. Durable Goods Orders
10:00 a.m. New Home Sales
10:30 a.m. EIA Petroleum Status Report

Thursday
8:30 a.m. GDP
8:30 a.m. Jobless Claims
8:30 a.m. Corporate Profits
10:30 a.m. EIA Natural Gas Report

Friday
8:30 a.m. Personal Income and Outlays
9:55 a.m. Consumer Sentiment