Market Wrap-Up

Investors started the trading week cheering two possible moves by the government designed to get the country back on track. The Obama administration is considering a massive infrastructure plan, the biggest since the 1950s, that would parcel out money to build new roads and bridges across the country and modernize other public works projects like school buildings. The plan could create 2.5 million jobs. It also appears Congress is close to approving an aid package for the nation's ailing automobile industry, aimed at giving them at least enough cash to carry them through until the new presidential administration is in place next year. The plan could put some of Detroit's chief executives on the unemployment line.

That news reverberated in markets around the globe leading to gains in Europe and Asia. Here in the U.S., the stock market traded up the entire session, a usually consistent performance given the volatility of the last few months. The Dow Jones Industrial Average gained 295 points Monday to close at 8,931.

The prospect of a stimulus plan and a Detroit bailout putting the economy back on solid footing helped spur a rally in commodities Monday, especially. Crude increased over $3 a barrel to the $44 level.

Winners

The broad rally in commodities helped lift several ETFs focused on that area. The iPath Dow Jones-AIG Copper ETN (JJC) jumped 6.6%. (The bet is that copper, a component of electrical wire, would benefit from infrastructure build-outs.) The United States Oil (USO) fund increased 5.5%. The SPDR S&P Metals and Mining (XME) increased 15%.

Losers

It was painful to be on the wrong side of the infrastructure play. The ProShares UltraShort Basic Materials ETF (SMN) dipped 18.7%.

Monday's Industry Headlines

Tax Time
Invesco PowerShares announced 119 of its 120 funds would pay zero capital gains distributions for 2008. The only fund to pay a distribution was the PowerShares S&P 500 BuyWrite Portfolio (PBP), which uses a unique covered call strategy on that benchmark.

Tuesday's Notebook

Look for the market to react to an official announcement on an auto maker bailout plan.

Earnings & Conference Calls
Autozone, G-III Apparel, KMG Chemical, Kroger, LTX Corp., Oxford Industries, Pep Boys, SAIC, Vail Resorts

Economic Data
7:45a.m. ICSC Chain Store Sales Index
8:55a.m. Redbook Retail Sales Index
3:00p.m. Oct. Pending Home Sales

Quick Take

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