The stock market's end-of-the-year rally ran out of gas before the finish line, giving Wall Street its first weekly loss since mid-October.
The Dow Jones industrial average ended the week with a 54-point loss at 10,877.51. The Dow's big problem is General Motors. After reporting sagging sales again last month, GM announced yet another round of rebates, which knocked its stock down again.
Wall Street isn't buying the idea that rebates will solve GM's problem now that Japanese brands have captured 40 percent of the U.S. market.
The Standard & Poor's 500-stock index followed the Dow down, slipping 3 points to 1,265.08. Like the Dow, the S&P suffered its first loss after five winning weeks in a row.
The Nasdaq Stock Market composite index managed to stretch its streak to seven straight weeks, advancing 10 points to 2,273.37.
With four weeks to go, the Nasdaq is up 4.5 percent year-to-date and the S&P is close behind with a 4.4 percent gain. But the Dow is up just 1 percent -- making investors wonder why they still call it "the blue chip index."
-- Jerry Knight