Market Fluctuation

A lackluster week on Wall Street as stocks bounced around, but made no huge gains or losses. While Federal Reserve chairman Roger Ferguson boosted investor confidence, saying inflation was under control and hinting at a moderated fiscal policy, consumer confidence dropped 0.7 points, according to the University of Michigan, and oil prices continued to rise, thanks to tension overseas. The end result was a mixed market. The Dow finished the week down 41.22 points, closing at 11,021.59, off 0.4 percent. The Nasdaq, however, finished the week higher, gaining 11.12 points to close at 2,302.60, up 0.5 percent. Ad stocks also finished the week mixed. Omnicom gained 0.35 points, closing at 80.50, up 0.4 percent. WPP Group also closed up at 59.09, gaining 0.47 points, a 0.8 percent increase. IPG, however, slipped 0.33 points, closing at 10.26, down 3.1 percent. —