Fears Temper Gains

Interest rates, inflation fears and worries about increased energy costs tempered positive earnings reports from companies like Google and AT&T. The Dow showed gains through Wednesday, but fell sharply on Thursday and Friday, after a report showed a regional inflation indicator at its highest level since 1980. The index closed the week flat at 10,216.91, down 1.69 points. The Nasdaq also gained through Wednesday, fell Thursday and Friday, but managed to finish the week at 2,082.21, up 27.71 points (1.3 percent). Advertising stocks were all down for the week. Omnicom finished the week at 77.95, down 0.96 points (1.2 percent). WPP closed at 48.22, off 0.12 points (0.2 percent). And IPG, after hitting its 52-week low last Tuesday (see story, page 7), recovered a bit to finish at 10.34, down 0.72 points (6.5 percent).