Stocks closed down Friday, with energy prices and a broad slide in equities weighing on many exchange-traded funds, even as top-line growth brightened earnings reports.

The Dow Jones Industrial Average dropped 108 points to 9972. The Nasdaq finished down 11 at 2154, and the S&P 500 ended down 13 at 1080.

Microsoft reported an 18% drop in fiscal first-quarter earnings, but the results easily topped forecasts and the software giant's stock surged. Honeywell International gained after it said third-quarter earnings fell 15% on continued weakness in sales, especially to commercial airlines, and the company lowered its 2009 revenue guidance.

As of 4:04 p.m., crude oil futures traded on the Nymex were down 53 cents at $79.97 a barrel. For a detailed rundown on Friday s trading session see our market story.

Winners

The iShares MSCI Sweden Index fund hung on to a 1.5% gain after the Swedish market closed up on Friday. The United States Oil Fund (USO) clung to a 1.5% weekly gain as well, despite a Friday drop in oil prices.

Losers

The iShares Dow Jones Transportation Average Index fund dropped 5.4% on trucking woes. The Market Vectors Gold Miners fund (GDX) dropped 3.8% as gold prices receded.

This Week s Industry News

Launching Pad
Claymore Securities launched the Claymore/AlphaShares China All-Cap ETF, which invests in a basket of 99 small-, mid- and large-cap Chinese companies. It now has three China-related funds. AlphaShares has two other ETF offerings with Claymore: the Claymore/AlphaShares China Real Estate ETF and the Claymore/AlphaShares China Small Cap Index ETF. The fund will charge an expense ratio of 0.7%.

The ETFS Palladium Trust plans to launch the ETFS Physical Palladium fund, whose shares are backed by actual palladium. ETF Securities USA is the sponsor of the trust; Bank of New York Mellon is the trustee and JPMorgan Chase Bank is the custodian. It will sell shares only in one or more blocks of 50,000 shares and will not sell fractions of that amount. The palladium that backs the fund will be stored in vaults in London and Zurich.

Pimco plans to launch a pair of Treasury-linked exchange-traded funds. The offerings from the world's largest bond fund manager in terms of assets, will track the BofA Merrill Lynch Long Treasury Principal STRIPS with the Index Pimco 20+ Year Zero Coupon U.S. Treasury Index fund , while the Pimco 3-7 Year U.S. Treasury Index Fund will track the Merrill Lynch 3-7 Year U.S. Treasury Index. The 20-year fund was listed Friday but has not started trading. Both funds will charge 0.15% in expenses, according to the prospectuses.

Van Eck Global plans to launch a new exchange-traded fund based on an index of small and medium sized gold mining and exploration companies. The manager has not yet launched the fund, which will track 38 companies, but expects to do so before the end of the year. Van Eck's Gold Miners fund tracks an index of larger mining and exploration companies. It charges 0.55% annually.

Barclays Global Investors plans to launch a family of municipal bond exchange-traded funds targeting certain maturity dates. Each fund is designed to hold the underlying securities from its respective index to full maturity, then convert them to cash for distribution to shareholders. The funds will track the recently launched S&P AMT-Free Municipal Bond Index Series.

Earnings and Conference Calls

Monday
Albemarle, Alberto Culver, Allis-Chalmers Energy, American Financial Group, Arch Capital Group, ARRIS Group, Associated Estates Realty, Atlas Air, Baidu, Banco Popular, Bank of Hawaii, Barrett Business Services, Boardwalk Pipeline Partners, Cabot Oil & Gas, Cadence Financial, Ceragon Networks, CF Industries, CH Energy Group, Corning, Covenant Transport , Crane, Data I/O, Dollar Thrifty Automotive Group, eHealth, Entropic Communications, EPIQ Systems, Extreme Networks, First Marblehead, Flextronics, Franklin Electric, General Cable, Hanger Orthopedic Group, Health Management Associates, HealthStream, Heartland Financial USA, Hexcel, HF Financial, iBasis, Independent Bank, Insulet, Interactive Intelligence, Intevac, Kilroy Realty, Lacrosse, Lakeland Financial, LAN Airlines, Liberty Property Trust, Lorillard, Masco, Meritage Homes, Mindspeed Technologies, Monro Muffler Brake, Morgans Hotel Group, National Oilwell Varco, NBT Bancorp, Nidec, NV Energy, Old National Bancorp, Olin, Owens & Minor, Par Technology, RartnerRe, Peoples Bancorp of North Carolina, Plum Creek Timber, Potlatch, PrePaid Legal, PrivateBancorp, RadioShack, Reinsurance Group of America, Rent-A-Center, Rockwood Holdings, Roper Industries, Silicom, SL Green Realty, Sohu.com, Solutia, Sunoco Logistics, SuperGen

Tuesday
A.M. Castle & Co, Abaxis, Inc., Acadia Realty Trust, ACE Limited, Actel, Advantest, Advent Software, Ahlstrom, Alcon, AMCORE Financial, Amedisys, American Campus Communities, American Dental Partners, American Ecology, Apollo Group, Armstrong World Industries, Arthur J. Gallagher & Co., ATC Technology, Avery Dennison, B&G Foods, Ballard Power Systems, Bayer, BE Aerospace, Bemis, Benchmark Electronics, Berkshire Hills Bancorp, Boston Properties, Boyd Gaming, BP, BTU International, Buffalo Wild Wings, Cabela's, Canadian Pacific Railway, Canon, Capella Education, CapitaLand, Carpenter Technology, Carter's, Cascade Microtech, CE Franklin, Celanese, Centene, Central European Media Enterprises, Century Aluminum, Cephalon, Ceradyne, Chemed, Chicago Bridge & Iron, CommScope, Compass Minerals, Compugen, Computer Task Group, Concurrent Computer, Convergys, Corn Products International, CSG Systems, CTS, Cynosure, Daimler, DeVry, DineEquity, Double-Take Software, DreamWorks Animation, DSP Group, Dynamics Research, E*TRADE Financial, EarthLink, Ecolab, Enagas, Endologix, Endwave, Entegris, First Financial Holdings, First Place Financial, FirstEnergy, FirstMerit, Fiserv, FPL Group, Franklin Resources, Fresh Del Monte Produce, FSI International, General Maritime, Harris, Heidrick and Struggles International, Heritage Financial, Honda Motor, Hospira, Hydrogenics, IAC, Iconix Brand Group, IDT, Integrated Device Technology, Johnson Controls, Jones Lang LaSalle, KeyTronic, L-3 Communications, Lexicon Pharmaceuticals, Liberty Mutual Group, Life Technologies, Massey Energy, McKesson, Mediq, Mercury Computer Systems, Merit Medical Systems, Methanex, Midsouth Bancorp, Midwest Banc Holdings, Molex, MoSys, MRF, Nalco Holding, National Australia Bank, National Instruments, NEC Capital Solutions, NeuStar, NewAlliance Bancshares, Norfolk Southern, NuStar Energy, NutriSystem, Open Text, Palm Harbor Homes, Palm Harbor Homes, Panera Bread, Patriot Coal, PDF Solutions, Peet's Coffee & Tea, Performance Technologies, Petroleum Geo-Services, Plantronics, Pool, Psychiatric Solutions, Quaker Chemical, Quantum, RadiSys, Rayonier, RenaissanceRe Holdings, RF Micro Devices, Rogers Communications, Saipem, Schnitzer Steel Industries, Scientific Learning, SeaBright Insurance Holdings, Silicon Storage Technology, Sonic Automotive, SonoSite, Southwest Georgia Financial, Stericycle, Sun Bancorp (New Jersey), Tanger Factory Outlet Centers, TD Ameritrade Holding, Tennant, Textron, Theravance, Transalta, Trimble Navigation, Trustmark, Under Armour, United States Steel, Urologix, Valero Energy, ValueClick, Visa, Waters, Wipro, Wynn Resorts

Wednesday
8x8, Inc., ACCO Brands, Acerinox, Acxiom, Advance America, Cash Advance Centers, Advanced Analogic Technologies, Advanced Energy Industries, Affiliated Managers Group, Aflac, Agnico-Eagle Mines, Akamai Technologies, Aker Biomarine, Alliance HealthCare Services, American Commercial Lines, American Safety Insurance, Amerigon, ArcelorMittal, Ariba, Ashland, AsiaInfo, Aspen Insurance Holdings, Assurant, Asure Software, Avalonbay Communities, Avista Corporation, BAA, Basic Energy Services, Beacon Enterprise Solutions, Belden, BG Group, BioSphere Medical, Blackbaud, BorgWarner, Boston Private Financial Holdings, Brandywine Realty Trust, Broadpoint Securities Group, Bryn Mawr Bank, Cabot, CACI International, Cadence Design Systems, Cal Dive International, California Water Service Group, CB Richard Ellis Group, Celadon Group, Churchill Downs, Coca-Cola Enterprises, Community Health Systems, CommVault, Compellent Technologies, ConocoPhillips, Duke Realty, Enterprise Products Partners, Equity Residential, Euronet Services, Express Scripts, Famous Dave's of America, First Solar, Flowserve, FMC, Fujitsu, General Dynamics, GlaxoSmithKline, GSI Commerce, Hanesbrands, Harleysville Group, Harmonic, HCL Technologies, Hercules Offshore, Hess, HickoryTech, Horace Mann Educators, Infospace, InterDigital, Interface, International Coal Group, International Paper, Internet Brands, Interpublic Group, Jarden, Jones Apparel Group, Lazard, LeCroy, Level 3 Communications, Lincoln National, LSI, MainSource Financial Group, MasTec, MeadWestvaco, MedAssets, Mediobanca, Mercer International, MHI Hospitality, Nanophase Technology, Newell Rubbermaid, Newport, Nexen, Odyssey Healthcare, O'Reilly Automotive, Owens Corning, Pennsylvania Real Estate Investment Trust, PepsiAmericas, Praxair, PSS World Medical, Questar, Qwest Communications, Rollins, Ryland Group, Sealed Air, Sherritt International, Southern, Steiner Leisure, Sun Healthcare Group, Susquehanna Bancshares, Symantec, Taleo, Teradyne, Torchmark, Tyler Technologies, UniFirst, UniSource Energy, Unisys, United Microelectronics, United Rentals, Universal American, Wausau Paper, WellPoint, Wyndham Worldwide, XL Capital, Zilog

Thursday
ABB, Accuray, Acme Packet, Acme United, Actuate, Adaptec, Adolor, Aetna, AGL, Airgas, Aivana, Alexander & Baldwin, Allegheny Energy, Allergan, AllianceBernstein, American Electric Power, Apache Applied Mocro Circuits, Asbury Automotive Group, AstraZeneca, Asustek, Atlantic Tele-Network, AutoNation, Avnet, AXT, Balchem, Ball, Bally Technologies, Bare Escentuals, Barrick Gold, BASF, BB Biotech, Bel Fuse, BioCryst Pharmaceuticals, Black Hills, BMC Software, Brookfield Homes, Brunswick, Brush Engineered Materials, Build A Bear Workshop, Burger King, California Micro Devices, Callaway Golf, Camden Property Trust, Chart Industries, Chicago Mercantile Exchange Holdings, Cincinnati Financial Corporation, Cliffs Natural Resources, CMS Energy, Cogdell Spencer, Colgate-Palmolive, Colonial Properties Trust, Columbia Banking System, comScore, Conexant Systems, CryoLife, Curtiss-Wright, Denny's, Depomed, Deutsche Bank, Dime Community Bancshares, Double Eagle Petroleum and Mining, Dover Downs Gaming and Entertainment, Dynamic Materials, Eastman Kodak, El Paso Electric, Elizabeth Arden, Enbridge Energy Management, Energen, Ethan Allen Interiors, Expedia, ExxonMobil, EZchip Semiconductor, Fairfax Financial Holdings, Forrester Research, Genworth Financial, Glimcher Realty Trust, Gold Fields, Great Plains Energy, Harris Interactive, Harsco, HealthSpring, Hertz Global Holdings, Hitachi, ImmunoGen, Ingram Micro, Interactive Data, Investment Technology Group, Iowa Telecommunications Services, Iron Mountain, Kansas City Southern, KBR, Kellogg, Keyence, LaBarge, Libbey, Lithia Motors, LKQ, Mack-Cali Realty, Macronix International, Manitowoc, Maxim Integrated Products, McAfee, Meredith, MetLife, Monster Worldwide, Moody's, Motorola, Mylan, Nanometrics, National Penn Bancshares, Navigant Consulting, NEC, Newmont Mining, Nintendo, Noble Energy, NorthWestern, Novamed, Novatel Wireless, NTN, Nu Skin, O'Charley's, Office Depot, OfficeMax, Olympic Steel, Opnet Technologies, Orthofix International, Panasonic, Patterson-UTI Energy, PC Connection, PC-Tel, PerkinElmer, PG&E, Phase Forward, Pinnacle Entertainment, Pinnacle West Capital Corporation, PNM Resource, Portland General Electric, Powerwave Technologies, PPL, Procter & Gamble, Provident Financial Holdings, Quixote, Radiant Systems, RealNetworks, Regal Entertainment Group, Regis, Reliv International, Revlon, Ruddick, SBA Communications, Sharp, Snap-on, Southwestern Energy, Sprint Nextel, Standard Pacific, Stanley, StarTek, Stratasys, Strategic Diagnostics, Strayer Education, Sturm Ruger, SureWest Communications, Tenneco, Timken

Friday
A. H. Belo, Alcatel-Lucent, All Nippon Airways, Allete, Alliant Energy, Ameren, American Axle & Manufacturing Holdings, Aon, Arch Coal, Bank of Smithtown, Barnes Group, BasicNet, BioScrip, Calpine, Chevron, Cogeco Cable, Constellation Energy Group, Coventry Health Care, Cummins, Dominion Resources, Domtar, Dorman Products, Duke Energy, Est e Lauder, First City Monument Bank, Gartner, Graham, Harmony Gold Mining, I-Flex Solutions, IntegraMed America, iStar Financial, ITT, Kyocera, Lance, Lincoln Electric Holdings, Macatawa Bank, Magellan Health Services, MDU Resources, MoneyGram International, OneBeacon Insurance Group, Penske Automotive Group, Progress Energy, Regency Centers, Sanofi-Aventis, Simon Property Group, Sony, Tim Hortons, Tree.com, UIL Holdings, Ultra Petroleum, Valtech, Washington Post, Weyerhaeuser Co.

Economic Data

Monday
1:00 p.m. 5-Yr TIPS Auction

Tuesday
8:55 a.m. Redbook
9:00 a.m. S&P Case-Shiller HPI
10:00 a.m. Consumer Confidence
10:00 a.m. State Street Investor Confidence Index

Wednesday
8:30 a.m. Durable Goods Orders
10: a.m. New Home Sales
10:30 a.m. EIA Petroleum Status Report

Thursday
8:30 a.m. GDP
8:30 a.m. Jobless Claims
10:30 a.m. EIA Natural Gas Report
4:30 p.m. Money Supply

Friday
8:30 a.m. Personal Income and Outlays
8:30 a.m. Employment Cost Index
9:45 a.m. Chicago PMI
9:55 a.m. Consumer Sentiment
3:00 p.m. Farm Prices