An End To The Slide

The Dow Jones industrial average posted significant gains last week, climbing back across the psychologically important 10,000 barrier to end at 10,191 for the week, up 2.3 percent. The Dow rebounded after four straight losing weeks on news of higher earnings among blue chips and a drop in oil prices to less than $40 per barrel. In light trading Friday before the long weekend, blue chips Verizon and Altria were down, while Intel and McDonald’s posted decent gains. Meanwhile, the University of Michigan consumer sentiment index fell to 90.2, its lowest point this year, from 94.2 earlier in the month. Ad stocks were essentially flat. On the Big Board, Omnicom shares were up 0.8 percent to close the week at $79.90, while IPG’s stock price was down 0.2 percent to $14.31. WPP, trading as American Depository Receipts on the Nasdaq, was up 0.9 percent to finish at $49.93.