Gradual Gains | Adweek Gradual Gains | Adweek
Advertisement

Gradual Gains

Advertisement

Despite continued news of devastation on the Gulf Coast, investors took a long-term look toward rebuilding, as stocks finished the week higher. Falling oil prices on Friday were a good sign that the economy might hold up for the long term, though a report late Friday showed consumer confidence had slipped slightly at the beginning of the month. The Dow gained 230.87 points (2.2 percent) to close at 10,678.56. The Nasdaq increased 28.2 points (1.3 percent) to finish at 2175.51. In ad stocks, Omnicom and WPP Group both closed higher, with OMC closing up 0.5 points (0.6 percent) at 81.54 and WPP, trading as American Depository Receipts, closing up 0.24 points (0.4 percent) at 52.75. Interpublic Group, in the wake of Prudential Securities changing its recommendation from "hold" to "sell" on Thursday, ended the week down 0.63 points (nearly 5.4 percent) to close at 11.12.