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A weak dollar and deflation fears made for a feeble advance in stock prices on the Dow Jones Industrial Average last Friday. Several concerns among marketing-communications-industry investors, such as the threat of a global ban on tobacco ads, mixed with positive prospects for the upfront market. Though a report by Merrill Lynch expects upfront spending to rise at least 7 percent from 2002, the analysts believe it has little bearing on the outlook for ad expenditures overall.
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