Stocks and many exchange-traded funds turned positive at the end of a rocky session on Friday after a January employment report that offered mixed signals.

After spending most of the afternoon underneath the 10K threshold, the Dow Jones Industrial Average finished with a late surge to close up 10 points at 10012. The S&P 500 gained three at 1066, and the Nasdaq was up 16 at 2141.

The unemployment rate fell to 9.7% last month, down from an unrevised 10% in December, the Labor Department said Friday. Economists surveyed by Dow Jones Newswires had forecast the jobless rate would edge higher to 10.1%. At the same time, nonfarm payrolls fell by 20,000 compared with a revised 150,000 drop decline in December. Economists had expected payrolls to come in flat. The December figure was revised down sharply from an originally-reported 85,000 drop. The Labor Department's annual benchmark revision to the survey showed that last year job losses were almost 600,000 more than previously reported.

Meanwhile, anxiety over European sovereign debt continued to roil world markets. Stocks plunged on Thursday as fears over the economic health of several European countries sent jitters through global markets. The Dow lost 268 points and briefly moved below 10000 for the first time since early November. European shares continued to fall on Friday posting losses for the third straight session as investors fretted that the health of Greece, Portugal and Spain could lead to a possible debt default or need for a European bailout. The cost of insuring the government debt of Greece, Portugal and Spain against default hit fresh record levels while prices of their government bonds also dropped again.Worries about European sovereign debt also weighed on Asian markets, with Japan's Nikkei 225 Average losing 2.9% -- its biggest drop in more than two months.

In other markets, the dollar strengthened against both the euro and the yen. Crude oil futures slid while gold futures also dropped. Treasurys climbed with the 10-year note up 7/32 to yield 3.585%.

For a detailed look at the markets, see our Market Update story.

Winners

Big swings on the major indexes made the (VXX) a winner with shares rising 5.2% for the week. Drops in oil pushed up the (UNG) up 3.3% for the week.

Losers

The collapse of the metals market pushed the iShares Silver Trust fund down 7% for the week. The debt woes of Eurozone nations pushed down shares of the (EWQ) 6.5%.

The Week s Industry Headlines

Data Point

State Street Global Advisors, the investment management business of (STT), said in its 2009 "Exchange Traded Funds (ETFs) Year-End Review and 2010 Outlook" report that last year was the third consecutive year in which ETF net inflows exceeded $100 billion. Investors moved away from large-cap U.S. equities and developed international equities and increased their exposure to ETFs linked to defensive asset classes, including gold, investment grade corporate bonds, and U.S. Treasury Inflation Protected Securities. Tom Anderson, director of strategy and research for the intermediary business group at State Street, said U.S. ETF assets are projected to reach the $1 trillion mark in 2010.

Demand for metals has progressed to the point where ETF Securities USA announced on Thursday that the total assets under management of its four products -- (SGOL), (SIVR), (PPLT) and (PALL) -- now exceed $1 billion as of Jan. 27, 2010. These physical metals funds have been popular with investors who do not want to buy actual commodities. The ETFS Physical Swiss Gold Shares now has $336 million in assets under management; the ETFS Physical Silver Shares now stands at $129 million; the ETFS Physical Platinum Shares now stands at $372 million; and the ETFS Physical Palladium Shares AUM now stands at $170 million.

The Week s Notebook

Earnings and Conference Calls

Monday
ADC, Advanced Photonix, Albany International, Albany Molecular Research, Alumin, Andersons, Answers, Apollo Investment, Associated Estates Realty, Atmel, Axis Capital Holdings, Boardwalk Pipeline Partners, Camden Property Trust, Charles River Laboratories International, CNA Financial, Compass Minerals, Comstock Resources, Cousins Properties, Crawford & Company, Cutera, CVS Caremark, Electronic Arts, Encore Capital Group, Evergreen Solar, Female Health, Forward Air, Genesee&Wyoming, Harman International Industries, Hartford Financial Services, Hasbro, HealthSpring, Ikanos Communications, iMergent, Lannett Company, Lender Processing Services, Liberty Property Trust, Lincare Holdings, Lincoln National, Loews, Lorillard, Mercury General, Nam Tai Electronics, Nuance Communications, NV Energy, Owens & Minor, Parkway Properties, Pike Electric, Randgold Resources, Rentrak, Resource America, Salary.com, Sirona Dental Systems, Skilled Healthcare Group, SRA International, SWS Group, Teck Resources, Terremark Worldwide, NASDAQ OMX Group, Principal Financial Group, Trident Microsystems, Universal Forest Products, Vanguard Health Systems, Veeco Instruments, VitranVoltaire, Vulcan Materials, W.R. Berkley, Wabash National, Waste Connections, Wausau Paper, White Electronic Designs

Tuesday
Aastrom Biosciences, Acadia Realty Trust, Active Power, Agrium, Allied Healthcare, Alpha Natural Resources, American Commercial Lines, American Financial Group, American Science and Engineering, Amtech Systems, Aramark, Aspen Insurance Holdings, Aspen Technology, Astronics, ATA Inc., Baidu, Barrett Business Services, Biogen Idec, BJ Services, BWAY Holding, Cameron, Capstone Turbine, CareFusionCascade Microtech, Celanese, Centene, Cerner, Church & Dwight, Coca-Cola, Cognizant Technology Solutions, Compugen, Corporate Executive Board, Corrections Corp. of America, Coventry Health Care, Cynosure, Diodes, Dionex, Douglas Emmett, EOG Resources, Gartner, Gaylord Entertainment, Gildan Activewear, Globecomm Systems, Insulet, Integrated Electrical Services, International Flavors & Fragrances, Kforce, Knightsbridge, Kubota, KVH Industries, LCA-Vision, Learning Tree International, Ligand PharmaceuticalsF, Lions Gate Entertainment, Mad Catz Interactive, Martin Marietta Materials, Max Capital Group, Mediware Information Systems, MGP Ingredients, Molson Coors Brewing, National Financial Partners, Netgear, New Frontier Media, Nissan Motor, NYSE Euronext, Peerless, Potlatch, Prospect Capital, Pulte Homes, QuickLogic, Ramtron International, RenaissanceRe Holdings, RG Barry, Rodman & Renshaw, RTI Biologics, Rubicon Technology, Rural/Metro, Rush Enterprises, Seattle Genetics, Semiconductor Manufacturing International, Stepan, Taubman Centers, Temple-Inland, The Coca-Cola, Tier Technologies, UBS, UDR, Ultimate Software, USANA Health Sciences, Valence Technology, Vishay Intertechnology, Vitesse Semiconductor, Walt Disney, Warner Music Group, Web.com, XL Capital, Zebra Technologies

Wednesday
ACCO, Activision Blizzard, Amerigon, Amkor Technology, AptarGroup, ArcelorMittal, Asure Software, Baldwin Technology, BHP Billiton, BioClinica, BioMed Realty Trust, BioSphere Medical, Boston Scientific, CAE, Cambrex, China Digital TV Holding, Coca-Cola Enterprises, Computer Sciences, comScore, Core Laboratories, Corporate Office Properties Trust, CPI International, Crown Crafts, Dean Foods, Deltek, Discovery Communications, EastGroup, Echelon, Edgar Online, Education Management, Elan, eLoyalty, Equinix, Everest Re Group, FBR Capital Markets, Forrester Research, GLU Mobile, GSI Commerce, Highwoods Properties, HNI, Hudson Highland, Infinity Pharmaceuticals, Insight Enterprises, Jones Apparel Group, L-1 Identity Solutions, Lance, Level 3 Communications, Lionbridge Technologies, LivePerson, Longtop Financial Technologoies, Louisiana-Pacific, Lyris, Marsh & McLennan Companies, Masco, Medtox, Mercer International, Millicom International, National Research, Net Servi os de Comunica o, Netsol Technologies, NeuroMetrix, NIS Group, Omnicom Group, OraSure Technologies,Orckit Communications, PartnerRe, PDF Solutions, Penn Virginia, Penn Virginia GP Holdings, Penn Virginia Resources, Petrobras Energ a Participaciones, Plains All American Pipeline, Protective Life, Prudential Financial, Rentech, Sanofi-Aventis, Schweitzer-Mauduit International, Scripps Networks Interactive, Select Comfort, Sierra Wireless, Sigma-Aldrich, Sonoco Products, Sprint Nextel, Support.com, Symetra Financial, Taleo, The Allstate, New York Times, Torchmark, Transatlantic Holdings, TransDigm Group, Vale, Wright Express, Wyndham Worldwide

Thursday
Administaff, Agilent Technologies, Akeena Solar, Alcatel-Lucent, Alcon, Alexandria Real Estate, Alexion Pharmaceuticals AllianceBernstein Holding, APCapital, AutoNation, Beckman Coulter, Bel Fus, BJ's R,estaurants, Blue Nile, , BorgWarner, Buffalo Wild Wings, Cephalon, CH Energy Group, Chipotle Mexican Grill, Hotels International, Cincinnati Bell Cinedigm Digital Cinema, Cognex, Coinstar, Command Security, Compellent Technolo,gies, Credit Suisse Group, DaVita, DCT Industrial Trust, Digirad, DPL, Ecolab, eGain Communications, eHealth, Emirates National Bank of Dubai, EnCana, EnPro Industries, Epicor Software, Expedia, EZchip Semiconductor, FBL Financial Group, FLIR Systems, Gardner Denver, Geeknet, General Cable, Glatfelter, Group 1 Automotive, Hanger Orthopedic Group, Hawaiian Electric Industries, Hercules Technology Growth Capital, Hornbeck Offshore Services, iPass, JA Solar Holdings, Jacada, Journal Communications, Laboratory Corporation of America, LeapFrog Enterprises, Lufkin Industries, Macerich, Mack-Cali Realty, Manulife Financial, Marriott International, Maxwell Technologies, McAfee, Media Sciences International, Merge Healthcare, Microtune, Molina Healthcare, Momenta Pharmaceuticals, Natural Resource Partners, Noah Education Holding, Novamed, Och-Ziff Capital Management Group, Palomar Medical Technologies, Panera Bread, Park City Group, Patterson-UTI Energy, Penson Worldwide, PepsiCo, Perceptron, Philip Morris International, Pioneer Behavioral Health, Portfolio Recovery Associates, Progress Energy, ProLogis, PROS Holdings, Qualstar, Quidel, RealNetworks, Realty Income, Republic Services, Rio Tinto, Rovi, SCANA, SkyWest, Smith & Nephew, SonicWALL, SonoSite, Stamps.com, Statoil ASA, Strayer Education, Sun Life Financial, Symyx Technologies, Syneron Medical, Syniverse Technologies, Tandy Brands, Targacept, Tekelec, Teradata, Cheesecake Factory, Phoenix Companies, Theragenics, Theravance, Total, TradeStation Group, TranSwitch, TreeHouse Foods, United Stationers, VF, Viacom, Vical, Vision-Sciences, Walter Investment, Westport Innovations, World Wrestling Entertainment, ZymoGenetics Inc.

Friday
ADDvantage Technologies Group, Allete, BCB Holdings, Duke Energy, Eni, Fomento Economico Mexicano, HCP, Ingersoll-Rand, Nordic American Tanker, NorthWestern, Par Technology, PepsiAmericas, Precision Drilling Trust, Ultra Petroleum Corp

Economic Data

Monday
No major economic indicators scheduled.

Tuesday
7:45 a.m. ICSC-Goldman Store Sales
8:55 a.m. Redbook
10:00 a.m. Wholesale Trade

Wednesday

7:00 a.m. MBA Purchase Applications
8:30 a.m. International Trade
10:30 a.m. EIA Petroleum Status Report
2:00 p.m. Treasury Budget

Thursday
8:30 a.m. Retail Sales
8:30 a.m. Jobless Claims
10:00 a.m. Business Inventories
10:30 a.m. EIA Natural Gas Report
4:30 p.m. Fed Balance Sheet
4:30 p.m. Money Supply

Friday
9:55 a.m. Consumer Sentiment