Market Wrap-Up

A triple-digit selloff late Friday afternoon cut into weekly gains for many exchange-traded funds and signaled the end of a two-week rally. Only oil and metals funds had their gains intact heading into the weekend. While the heated debate over the bonuses paid to AIG (AIG) employees garnered most of the headlines, the downturn in stocks Friday can be chalked up to a little profit taking and a bigger concern about the broader economy amidst government rescue plans. For a complete rundown of Friday s trading session see our market story.

Winners

As crude oil stayed above $51 a barrel, the United States Oil fund (USO) picked up 14.1% for the week. The SPDR S&P Oil & Gas Exploration & Production fund (XOP) gained 9.4%.

Losers

Investors fled risky housing-related and real estate funds after signs this week those industries still have a ways to go on the road to recovery. The SPDR DJ Wilshire REIT fund (RWR) shed 13% over the week, while the iShares Cohen & Steers Realty Majors Index (ICF) fund lost 11.5%.

This Week s Industry News

Closings
Six MarketGrader ETFs will be shut down, sponsor SPA ETFs announced Monday. Three exchange-traded notes issued by Credit Suisse Securities will cease trading on the New York Stock Exchange by April 3 because of insufficient trading volumes. The Elements MLCX Gold Index ETN (GOE), Elements MLCX Livestock Index ETN (LSO) and Elements MLCX Precious Metals Plus Index (PMY) will close, but Credit Suisse said it will continue to list its Elements Credit Suisse Global Warming ETN (GWO).

Launching Pad
WisdomTree Investments sought permission from the Securities and Exchange Commission to start a pair of internationally focused exchange-traded funds using currency hedging strategies. The company said the WisdomTree DEFA Hedged and WisdomTree Emerging Markets Hedged ETFs would invest in indexes like its other funds, but would hedge their long-only exposure with foreign currencies. Each would have an expense ratio of 0.63%.

Denver-based ALPS Fund Services last week filed a request with the Securities and Exchange Commission to open the ALPS Equal Sector Weight ETF. The fund would track the Merrill Lynch Equal Sector Weight index, which divides the broad U.S. stock market into nine equally weighted sectors. The proposed fund would be a fund of ETFs, and would use State Street s sector SPDRs funds. The prospectus listed an expense ratio of 0.55%.

Next Week s Notebook

Earnings and Conference Calls

Monday
Alizyme, Phillips-Van Heusen, Tiffany, Walgreen s

Tuesday
Carnival Corp., Deutsche Bank, Jabil Circuit, Talbots, Williams-Sonoma

Wednesday
CKE Restaurants, DSW, First Data, First Citizens Banc, Red Hat, Solarfun Power Holdings

Thursday
Accenture, Best Buy, ConAgra, Dr. Pepper Snapple Group, Game Stop, Scholastic, Texas Industries, Wet Seal

Friday
MI Developments, Nielsen, Sadia

Economic Data

Monday
10:00 a.m. Feb. Existing Home Sales

Tuesday
7:45 a.m. ICSC Chain Store Sales Index
8:55 a.m. Redbook Retail Sales Index
10:00 a.m. March Richmond Fed Manufacturing Survey
4:30 p.m. API Oil Industry Report
5:00 p.m. ABC/Washington Post Consumer Confidence

Wednesday
7:00 a.m. Mortgage Applications Refinance Index
8:30 a.m. Feb. Durable Goods Orders
10:00 a.m. Feb. New Home Sales
10:30 a.m. U.S. Energy Dept. Oil Inventories

Thursday
8:30 a.m. 4Q Final GDP
10:00 a.m. DJ-BTMU Business Barometer
10:30 a.m. EIA Natural Gas Inventories

Friday
8:30 a.m. Feb. Personal Income
8:30 a.m. Feb. Personal Spending
10:00 a.m. End-March Reuters/Univ. Michigan Sentiment Index

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