Off to Work We Go | Adweek Off to Work We Go | Adweek
Advertisement

Off to Work We Go

Advertisement

The Dow Jones industrial average was broadly higher Friday following a Labor Department report showing strong job growth in January. It was the best month for job creation since December 2000, though not as strong as expected. That soothed investor fears that interest rates would rise sooner rather than later, one analyst said. Ad stocks, meanwhile, were little changed.

Tom Schrader, head of listed trading at Legg Mason in Baltimore, said the market performance was weak enough that the Federal Reserve "won't have to raise rates as fast or as soon as some people anticipated." On the Big Board, Omnicom Group shares fell 1.4 percent to $81.40, while Interpublic Group traded up 1.7 percent to close the week at $16.87. British holding company WPP Group, trading as American Depository Receipts on the Nasdaq, saw stock prices creep up 0.4 percent to $55.40.