Economy Looking Up

The economy looked in pretty good health going into the second half of 2005. The Commerce Department reported that gross domestic product grew at a 3.4 percent rate for the second quarter, while a University of Michigan report showed further consumer confidence. Still, both markets finished the week relatively flat, as investors took gains. The Dow finished down 10.27 points (0.01 percent), to close at 10,640.91. The Nasdaq was up 5.09 points (0.2 percent), to close at 2,184.83. In ad stocks, Omnicom closed at 84.87, up nearly 0.2 percent. Interpublic Group closed down, 0.8 percent to finish at 12.50. WPP Group, trading as American Depository Receipts, closed up 2 percent to finish at 52.67. Finally, MDC Partners last Friday filed an amended 10-KA to bring it in compliance with Sarbanes-Oxley. The action ends Nasdaq’s delisting process, and the company’s symbol will revert to MDCA on Monday.