Gaining Streak Ends

The markets cut short three weeks of solid gains last week, finishing relatively flat from the week before. Despite decent earning reports earlier in the week, Friday trading was tempered by lower-than-expected earnings from Microsoft Corp. and an increase in oil price futures. The Dow finished the week relatively flat, only gaining 10.35 points to finish at 10,651.18. The Nasdaq also finished the week only slightly up, gaining 22.96 points to finish at 2,179.74, up 1 percent from the previous week. The three largest advertising holding companies finished the week mixed, with Omnicom closing at 84.72, up nearly 4 percent. With news that it had installed a new CFO and strategist to focus on the U.S., IPG showed a small gain of 0.1 percent to close at 12.60. WPP, trading as American Depository Receipts, finished down just over 1 percent at 51.49.

Recommended articles