By Angie Hembury for VectorVest
After being closed for President's Day Monday, the Major Indexes began the trading week mixed on Tuesday as investors digested another round of downtrodden economic data and news that Actavis agreed to acquire Forest Laboratories. The Dow faltered 0.2%, led by poor results from Coca-Cola (KO). Meanwhile, the S&P 500 picked up a modest 0.1% and the Nasdaq rose 0.7%, its eighth straight winning session.
Anxiety set in Wednesday after the release of the Fed minutes that revealed both the possibility of interest rate hikes in the future and dissention between policymakers on the continuation of the taper. The Dow tumbled 89.84 points, the S&P 500 dipped 12.01 points and the Nasdaq lost 34.83 points, breaking its longest winning streak in seven months.
Stock prices ended higher Thursday on the heels of a manufacturing report from Markit that showed expansion at its fastest pace in nearly four years. The Dow and S&P 500 both added 0.6% and the Nasdaq picked up 0.7%.
Despite a weak Existing Home Sales report, the Major Indices spent much of Friday's session in positive territory before succumbing to selling pressure and ending slightly lower. The Dow ended at 16,103.30 and the S&P 500 closed at 1,836.25, both down 0.2%, while the Nasdaq dipped just 0.1% to finish at 4,263.41.
For the week, the Dow lost 0.3% and the S&P 500 fell 0.1%, but the Nasdaq managed to hold on for the third consecutive weekly gain, finishing 0.5% higher. And that's The Market In Review.