Sharps, Then Flat

The stock market was rocked by big swings throughout last week amid inflation fears, but despite the volatility, the two key indexes ended the week essentially flat, thanks largely to a strong rally on Thursday. Strong results for tech stocks including Intel, Yahoo! and Google were countered by bad news from Costco and Maytag, which had investors fearing a drop in consumer spending. And again, oil prices were up. For the week, the Dow Jones industrial average closed at 10,157.71, up less than a point, while Nasdaq trading was completed at 1932.19, up just more than a point. All of the major ad-agency holding-company stocks traded up, if only slightly, for the week. WPP, which reported double-digit revenue growth for the first quarter, closed at $57.15, up 2.5 percent. The other two players were essentially flat, with Omnicom finishing its week at $83.99 and IPG ending at $13.07.