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News on Thursday that the U.S. economy grew 7.2 percent in the third quarter—the highest GDP surge in 19 years—provided a lift to The Dow Jones Industrial Average, which had already seen five consecutive days of gains. Upbeat earnings reports and forecasts offered hope for buyers of ad stocks as well. In particular, Omnicom reported strong Q3 earnings (see page 8). “Omnicom recorded an impressive $1.9 billion increase in net new business in the third quarter, clearly the highest among its peers,” said Jason Helfstein, director of equity research at CIBC World Markets.
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