A VOLATILE FRIDAY ENDED positively for stocks as major indexes posted gains for the third consecutive month. Trading was light in the holiday-shortened week. Despite the all but inevitable bankruptcy of General Motors (GM), the first quarter GDP drop came in at 5.7%, less than earlier 6.1% estimates, and oil closed at $66.41, a six-month high. The Dow Jones Industrial Average rose sharply at the end of the day, climbing 96 points to close at 8500. To see a complete rundown on Friday s trading session see our market story.

Winners

The Market Vectors Russia fund (RSX) rose 12.1% for the week on the energy rally, and the United States Oil fund (USO) ticked up 10.8%. The PowerShares India Portfolio fund (PIN) climbed 9.2% following the national election that put a pro-business Congress party-led coalition in power.

Losers

PowerShares Insured National Municipal Bond Portfolio fund (PZA) dropped 2.2%.

Next Week s Notebook

Earnings and Conference Calls

Monday
Altera Corporation, Apollo Investment, Lions Gate Entertainment

Tuesday
Applied Signal Technology, Bob Evans Farms, Daktronics, Dollar General, Hovnanian Enterprises, Layne Christensen, Ryanair Holdings, United Natural Foods, VeriFone Holdings

Wednesday
ADC, Collective Brands, Comtech Telecommunications, Cyberonics, Dynamex, G-III Apparel Group, Lukoil, Toll Brothers, Williams-Sonoma

Thursday
ABM Industries, Analogic, Cascade, Ciena, Guess, Harry Winston Diamond, KMG Chemicals, Navisite,
Vail Resorts, Valence Technology

Friday
Agilysys, Exide

Economic Data

Monday
10 a.m. ISM Manufacturing Index
10 a.m. Construction Spending

Tuesday
7:45 a.m. ICSC Chain Store Sales
8:55 p.m. Redbook Retail Sales Index
10 a.m. Pending Home Sales Index

Wednesday
7 a.m. MBA Purchase Applications
7:30 a.m. Challenger Job-Cut Report
8:15 a.m. ADP Employment Report
10 a.m. Factory Orders
10 a.m. ISM Non-Manufacturing Index
10:30 a.m. EIA Petroleum Status Report

Thursday
8:30 a.m. Initial Jobless Claims
8:30 a.m. Productivity and Costs
9 a.m. 30-Yr Bond Announcement
10:30 a.m. EIA Natural Gas Report

Friday
8:30 a.m. Bureau of Labor Statistics Employment Situation
3 p.m. Consumer Credit

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