Generally Upbeat Week

Both major stock indexes were up for the week amid generally positive economic news. Trading was light late in the week as the unofficial start of summer looms. The Dow Jones industrial average closed at 10,542.55, up .7 percent, while the Nasdaq finished at 2075.73, up 1.5 percent. The biggest Blue Chip loser was Pfizer due to reports that Viagra (handled by IPG’s McCann Erickson) is being studied for a link to blindness; Pfizer shares dropped almost 2 percent on Friday to close at $28.35. It was an uneventful week for shares of the major advertising agency holding companies. WPP Group, trading on the Nasdaq as American Depository Receipts, was up 1.3 percent to finish the week at $53.89. Omnicom was down 1.6 percent to close at $82.70, while Interpublic Group shares lost 11 cents over five days of trading to close at $12.38, a loss of less than a point for the week.