Wall Street found the silver lining in a Labor Department report that the economy grew at a slower-than-expected pace last week. Though the report showed that U.S. gross domestic product only grew 1.1 percent during the fourth quarter of 2005, traders looked to the long-term, viewing the news as yet another indicator that the Federal Reserve would be hard-pressed to raise interest rates when it meets this week. The Dow finished the week 238.46 points higher to close at 10,907.21, a 2.2 percent gain. The Nasdaq gained 48.92 points, closing at 2,304.23, for a 2.2 percent gain. Ad stocks finished higher as well. Omnicom closed at 83.93, gaining 0.91 points (up 1.1 percent). Interpublic Group also finished higher, gaining 0.37 points, to close at 10.21, up nearly 3.8 percent. WPP Group also finished higher, closing up 0.17 points at 55.81, a 0.3 percent gain.
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