All Eyes On The Fed

The Dow Jones industrial average held on to gains in light trading Friday as ongoing concerns about possible interest-rate hikes swirled around the market. A June 30 meeting of the Federal Reserve Board is expected to yield a clearer picture for investors, as chairman Alan Greenspan will discuss rates. The Dow ended up marginally on the week at 10,416, a gain of 6 points. Aluminum maker Alcoa was the biggest gainer among blue chips, seeing its stock value rise nearly 4 percent to $32.53. Other winners included Microsoft and DuPont, while Home Depot and Hewlett-Packard suffered losses during the week’s last day of trading. On the Big Board, Omnicom shares declined 3.4 percent to close the week at $77, while IPG’s stock price slid 1.3 percent to $14.49. WPP, trading as American Depository Receipts on the Nasdaq, was up a solid 3 percent to finish at $51.83.