A Climate of Uncertainty

While the Dow Jones Industrial Average posted modest gains last week, trading was light on Friday as investors escaped early for the holiday weekend. As for ad holding company stocks, prices were mixed. There is lingering uncertainty about the strength of the current ad recovery, especially internationally, said Fred Searby, a vp and ad-industry analyst with J.P. Morgan. “We’ve had the more bearish outlook all year,” he said, “and I think that there’s some signs of improvement in international markets but that they’re still cycling much worse than the U.S.”