Five-Year Highs

Stocks closed last week at their highest point in nearly five years, despite the news on Friday that General Motors’ 2005 losses were $2 billion more than originally reported. Despite the revelation (which sent GM shares down nearly 5 percent), the Federal Reserve reported that industrial production grew 0.7 percent in February. The news, plus falling oil prices, pushed the Dow up to its best close since May 2001. The index gained 212.04 points for the week, closing at 11,279.65, up nearly 2 percent. The Nasdaq gained 37.04 points, closing at 2,306.48, up 1.6 percent. Ad stocks, however, finished mixed. Omnicom gained 0.89 points to close at 82.39, up 1.1 percent. WPP Group also increased, closing at 59.52, up 0.13 points, a gain of 0.2 percent. Interpublic Group, however, finished the week down, losing 0.06 points to close at 10.11, a drop of 0.6 percent.