Market Wrap-Up

Tepid earnings outlooks, analyst downgrades and record oil prices were just a few factors that conspired to punish equities this week. The Federal Reserve held interest rates steady at 2%, which briefly bolstered financial stocks but hurt the dollar. The Dow Jones Industrial Average lost 4% on the week, settling on the cusp of a bear market. Consumer sentiment hit a 28-year low. It was no fun unless, of course, you held commodities, which benefited from a weaker greenback and the flight from stocks. The Dow Industrials declined 107 points Friday to 11347, the broader S&P 500 fell 5 to 1278 and the tech-heavy Nasdaq Composite Index shed 6 to 2316. Oil closed above $140 for the first time, adding 57 cents to $140.21 a barrel.

Winners

Energy and commodities ETFs gained once again, helped by the weaker dollar. Among the winners were

iShares Oil & Gas Exploration & Production

Oil Service HOLDRS

SPDR Metals & Mining

Market Vectors Gold Miners

Losers

Financials were among the biggest losers for the second day in a row. Analysts at

Lehman Bros.

Merrill Lynch

Morgan Stanley

Financials Select SPDR

iShares Dow Jones US Financial

iShares Dow Jones US Broker-Dealers

The Week's Industry Headlines

Vanguard introduced a new global index fund and an ETF to go with it. Vanguard Total World Stock Index Fund tracks the FTSE All-World Index, a benchmark of about 2,900 stocks in 47 countries. The ETF,

Vanguard Total World

Victoria Bay Asset Management changed its name to United States Commodity Funds to better reflect what it does. The company manages several commodity-based ETFs, including United States Oil, United States Natural Gas and United States Gasoline

ProShares, the company that pioneered the first leveraged and short ETFs two years ago, said its net assets surpassed the $20 billion mark. That figure has more than doubled since the beginning of the year.

Next Week's Notebook

Earnings
Monday: H&R Block, Robbins & Myers

Tuesday: Apollo Group, Constellation Brands

Wednesday: Acuity Brands, Family Dollar, Spectrum Control, WD-40

Economic Data
Monday: Chicago PMI (9:45 a.m.), Dallas Fed Production index (10:30 a.m.)

Tuesday: Chain Store Sales (7:45 a.m.), Retail Sales (8:55 a.m.), Construction Spending (10 a.m.), ISM Manufacturing Business Index (10 a.m.)

Wednesday: ADP Employment Report (8:15 a.m.), Factory Orders (10 a.m.), Crude Inventories (10:30 a.m.)

Thursday: Initial Jobless Claims (8:30 a.m.), Nonfarm Payrolls (8:30 a.m.), Unemployment Rate (8:30 a.m.), ISM Non-Manufacturing Composite index (10 a.m.), Business Barometer (10 a.m.)

Friday: Holiday

Quick Take

A look at how the industry's most popular ETFs did on Friday.