Stocks Rise on Hopes of Interest-Rate Cut

The Dow Jones Industrial Average closed Friday slightly higher than the previous week, as investors looked toward an anticipated interest-rate cut from the Federal Reserve. On the Big Board, IPG shares climbed 5.6 percent to finish at $14.55; Omnicom rose 2.6 percent to close the week at $74.89; and British holding company WPP, trading as American Depository Receipts on the Nasdaq, fell 4.5 percent to $39.71. While Universal McCann’s Bob Coen revised his 2003 adspend forecast downward last week (see story on page 20), investment bank CIBC Worldwide revised its forecast upward, projecting growth of 3.3