ETFs End Week Enduring Bear Market

Market Wrap-Up

As traders headed off early Thursday for the long holiday weekend, they left behind a stock market that suffered a big two day drop last Thursday and Friday and one that eventually fell into bear market territory once trading opened this week. High oil prices were the culprit once again. Reports speculated Israel may be gearing up for a conflict with Iran. Oil closed the week over $144 per barrel.

But there were also plenty of corporate announcements for investors to stew over. General Motors (GM) hit a 54-year low when an analyst questioned whether the company would have to declare bankruptcy if sales continued to deteriorate. Some financials were downgraded ahead of second quarter earnings releases due over the next few weeks. Blockbuster (BBI) walked away from its deal to buy Circuit City (CC). However, Microsoft (MSFT) kept the M&A engine alive when the Wall Street Journal reported the company was looking for partners to pull off a deal to buy — and break up — search engine firm Yahoo (YHOO).

The Dow Jones Industrial Average closed down 56 points for the week, ending at 11,289.

Winners

Investors looking for a little cover from the market's volatility jumped into the biggest blue chips on the planet Thursday. The SPDR Dow Jones Global Titans (DGT), an ETF that owns 50 big companies across the globe, gained 2.5%

During a shortened trading week, one of the biggest gainers was United States 12 Month Oil (USL). It increased 5.2%.

Losers

When the stock market enters bear territory no company is immune from indiscriminate selling. For example, coal stocks sold off this week on the mildest of provocations, as investors opted to take profits. The Market Vectors Coal ETF (KOL) dropped 5.5% Thursday and 14.5% for the week. This could be a temporary lull. Several analysts reiterated their bullish sentiments this week.

Solar stocks also lost their shine. Traders focused on Spain's debate about continuing to grant the industry government incentives. And in Germany there are also over-capacity concerns. Claymore/MAC Global Solar Energy (TAN) and Market Vectors Solar Energy (KWT) decreased 11.7% and 10.7%, respectively, this week.

The Week's Industry Headlines

Launching Pad
Invesco PowerShares announced that its Global Wind Energy Portfolio ETF began trading. The fund tracks an index of 32 companies that derive all or a substantial portion of their revenues from this niche. It charges an expense ratio of 0.75% a year.

Closing Down
The board of directors of Realty Funds announced it was liquidating effective July 31 seven Adelante Shares ETFs that focused on real estate. (July 24 will be the last day of trading.) Click here to view the full press release.

Next Week's Notebook

Alcoa kicks off the second quarter earnings season when it reports its numbers on Tuesday.

Earnings

Tuesday: Alcoa, Century Bancorp, Helen of Troy, Pepsi Bottling, Premier Exhibitions, Sealy, Greenbrier
Wednesday: Flow International, International Speedway, Intervoice, Material Sciences, Ruby Tuesday, Shaw Group, Wolverine
Thursday: Chattem, Marriott, Penford, Texas Industries
Friday: Fastenal, General Electric, Rockwell Collins

Economic Data

Monday: Conference Board Employment Trends (10 a.m.)
Tuesday: Chain Store Sales (7:45 a.m.), Retail Sales (8:55 a.m.), Wholesale Trade (10 a.m.), Pending Home Sales (10 a.m.), Consumer Credit (3 p.m.)
Thursday: Initial Jobless Claims (8:30 a.m.), Business Barometer (10 a.m.)
Friday: Trade Balance (8:30 a.m.), Import Prices (8:30 a.m.), Federal Budget (2 p.m.)

Quick Take

A look at how the industry's most popular ETFs did on Thursday.

10 Largest ETFs
Symbol	Net Assets	Price	52 Week High	52 Week Low	Volume
SPY	77,056	126.25	156.39	126.05	236,665,243
EFA	47,565	67.22	85.64	67.18	14,419,965
EEM	27,269	129.15	165.39	117.49	17,161,140
GLD	NA	92.06	99.81	64.2	9,602,617
IVV	16,710	126.32	156.65	126.27	4,091,745
QQQQ	17,586	44.63	55.03	41.17	121,995,046
IWF	14,092	53.94	63.64	52.79	3,252,945
SHY	8,988	82.8	84.49	79.69	113,153
VTI	10,808	62.94	77.66	63.06	1,186,317
IWD	8,900	67.62	89.3	67.68	1,203,898