Ad Stocks Dip as 3Q Ends

Major U.S. stock indexes fell modestly Friday as sellers got the upper hand in a struggle to set the market’s tone ahead of the third-quarter earnings season. The Dow Jones Industrial Average declined 3.5 percent for the week, while the Nasdaq was off about 5.5 percent. Mixed economic data, mutual funds’ desire to lock in profits ahead of the end of the quarter and the end of recent short covering also combined to hit stocks, analysts said. Ad holding-company investors suffered as well, as the Big Three all ended the week down. On the Big Board, Omnicom Group’s shares fell 7.3 percent to close the week at $72.36. Interpublic Group’s stock price dropped 6.4 percent to $13.90. WPP Group, trading as American Depository Receipts on the Nasdaq, decreased 6.7 percent to $42.46.