Stocks and exchange-traded funds closed one of the slowest trading weeks of the year nearly flat following a Friday rally that made up for a string of losing sessions.

A highly anticipated report showed job losses softened last month but the unemployment rate soared to its highest level since June 1983. Nonfarm payrolls declined 216,000 in August, the Labor Department said, a less-severe drop than economists expected

In advance of the Labor Day weekend, another low-volume trading day pushed major indexes up close to their Monday opening levels and left short-biased ETFs on the losing end of the trade.

Energy and gold prices were active over the week, and that was reflected in the performance of popular ETFs.

The Dow Jones Industrial Average on Friday closed up 97 at 9441. The Nasdaq rose 36 to 2019, and the S&P 500 climbed 13 to 1016.

For a detailed rundown on Friday s trading session, see our market story.

Winners

The (GDX) climbed 14.7% for the week as gold prices hovered just below $1,000 an ounce. The volatile moves of Chinese stock markets pushed the (FXI) up 5.2% for the week.

Losers

Rising natural gas inventories and a limitation in the number of shares amplified the squeeze on the (UNG), which lost 13.1% for the week. Amplified concerns about commercial real-estate defaults hit the (VNQ), which shed 4.5%.

This Week s Industry News

Data Point
Exchange-traded fund manager iShares reported that as of June 30, total ETF assets under management had reached $862 billion as investors adjusted to ongoing market volatility. That's 7% higher than a previous global record of $805 billion set in April 2008. About $582 billion represented U.S. assets under management. Michael Latham, iShares managing director, said five of the 10 most actively-traded tickers in June were ETFs.

Launching Pad
Canadian insurer (MFC) sought permission from the Securities and Exchange Commission (SEC) to issue exchange-traded funds. Manulife subsidiaries John Hancock Advisers, John Hancock Investment Management Services and MFC Global Investment Management would each advise at least one of the funds Manulife seeks to launch. The filing said the funds would be based on existing stock indexes but offered no further details.

The asset management arm of (JEF) applied to the SEC for exemptions that would allow the investment bank to launch exchange-traded funds. It plans a domestic equity fund and a domestic fixed-income fund and plans more fund launches after those begin trading.

Next Week s Notebook

Earnings and Conference Calls

Monday
No earnings releases scheduled.

Tuesday
AeroVironment, Alloy, C&D Technologies, Casey's General Stores, Evertz Technologies, FuelCell Energy, Inscape, Nobel Learning Communities, Pep Boys. Smithfield Foods

Wednesday
John Wiley & Sons, Korn/Ferry International, Lakeland Industries, Mediware Information Systems, Men's Wearhouse, Metorex, Ocean Power Technologies, Piedmont Natural Gas, Rex Stores, Shuffle Master, Signet Jewelers, Spartech, Streamline Health Solutions, Talbots, United Natural Foods, Zale

Thursday
AEP Industries, Claire's Stores, Dollar General, Finisar, Hooker Furniture, Lantronix, Lululemon Athletica, MDS, MGP Ingredients, National Semiconductor, Volt Information Sciences

Friday
Brady Corporation, Campbell Soup

Economic Data

Monday
No major economic indicators.

Tuesday
7:45 a.m. ICSC-Goldman Store Sales
8:55 a.m. Redbook
3:00 p.m. Consumer Credit

Wednesday
7:00 a.m. MBA Purchase Applications
10:00 a.m. Quarterly Services Survey
2:00 p.m. Beige Book

Thursday
8:30 a.m. International Trade
8:30 a.m. Jobless Claims
10:30 a.m. EIA Natural Gas Report
10:30 a.m. EIA Petroleum Status Report
4:30 p.m. Fed Balance Sheet
4:30 p.m. Money Supply

Friday
8:30 a.m. Import and Export Prices
9:55 a.m. Consumer Sentiment
10:00 a.m. Wholesale Trade
2:00 p.m. Treasury Budget