The Week on Wall Street: Speed Bump

Friday, 25 May 2007 | 6:03 PM ET

Stocks ended the week slightly lower as economic data and worries of a near-term pullback kept buyers out of the market.

The Dow Jones Industrial Average closed the week with a loss of 0.4%, its first decline since March, the S&P 500 fell 0.5% and the Nasdaq Composite ended the week just below the unchanged mark.

Market Wrap
A roundup of the day's market activity, with Al Kugel, Atlantic Trust chief investment strategist; Ron Insana, CNBC sr. analyst and CNBC's Maria Bartiromo

The markets started the week mixed on Monday despite a busy day of mergers-and- acquisitions activity.

General Electric said it agreed to sell its plastics business to Saudi Basic Industries for $11.6 billion in cash. GE is the parent company of CNBC.

Alltel, the fifth-largest wireless services provider in the United States, said late Sunday it will be acquired by TPG Capital and Goldman Sachs unit GS Capital for almost $28 billion.

On Tuesday, the markets failed to sustain a midday rally and the major markets ended mixed.

Afternoon Markets
The S&P is close to a record and market momentum continues, with Jordan Kimmel, National Securities Corp. market strategist; Bob Pisani, CNBC market floor reporter and CNBC's Maria Bartiromo

"It's indicative of the late stages of a bull market," said Tom Schrader, head of U.S. listed trading at Stifel Nicolaus. "We've had a tremendous move, and it's time for us to have a little pause or a pullback of about 3% to 5% in the market."

Shares of gaming companies rose after billionaire investor Kirk Kerkorian's firm Tracinda said it would explore strategic options for its majority stake in MGM Mirageand enter talks to purchase the company's Bellagio Hotel and CityCenter properties.

Intel rose 1.6% after the chip bellwether said itwas combining its NOR flash memory card business with European chipmaker STMicroelectronics and a private equity firm.

Market Wrap
A roundup of the day's market activity, including Alan Greenspan's comments on the Chinese markets, with with Rob Morgan, Janney Montgomery Scott investment strategist; Lincoln Anderson, LPL Financial Services CIO and CNBC's Maria Bartiromo

Stocks closed lower on Wednesday after former Fed Chairman Alan Greenspan expressed concern about a decline in China's explosive stock market.

The major markets pared early gains fueled by a potential bidding war for aluminum producer Alcan.

Market Wrap
An economic reality check and how to navigate the markets in the weeks ahead, with Byron Wien, Pequot Capital chief strategist and CNBC's Maria Bartiromo

On Thursday, stocks closed broadly lower after strong economic data lowered the odds of a near-term cut in interest rates, while tech stocks fell following earnings warnings.

Dell plans to sell low-priced desktop computers at more than 3,500 North American stores operated by Wal-Mart Stores , the world's largest retailer said on Thursday. The struggling computer maker is moving beyond its longstanding direct sales business model as it fights to win back market share from Hewlett-Packard.

Stocks recovered somewhat on Friday on more M&A news, while tech stocks rebounded from Thursday's swoon.

Executive Summary
A wrap up of the days market news, with CNBC's Mike Huckman

Nasdaq Stock Market said it would acquire Sweden's OMX for $3.67 billion, giving the electronic exchange entrance to Europe. OMX, which operates exchanges in seven Nordic countries, will become the world's second transatlantic exchange after the New York Stock Exchange's acquisition of Paris-based Euronext earlier this year.

Coca-Cola agreed to buy privately held Glaceau in a cash deal valued at $4.1 billion. Glaceau sells various "enhanced water" products including Vitaminwater and Smartwater. The transaction is expected to boost Coke's earnings per share in the first full year following completion of the acquisition.

Peter Kang is a news writer for CNBC.com. He can be reached at peter.kang@nbcuni.com.

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