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Exchange-traded funds related to financials were among the best performers of a winning week, despite mixed earnings reports from key names in the sector.
On Wednesday, Merrill Lynch (MER Quote) sank sector ETFs, following its greater-than-expected $7.9 billion writedown due to the credit crisis. The stock, however, rebounded Friday on rumors CEO Stan O'Neal would be forced out of the position.
Countrywide Financial's (CFC Quote) rosy guidance on Friday also buoyed financial names, helping the stock to finish the week higher. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
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