A Muddled Ending

The Dow Jones Industrial Average ended the week down 36 points despite strong data from a number of reports, including one from the Commerce Department that said U.S. economic growth was 4.1 percent for fourth-quarter 2003. Growth slowed from a more fevered pitch in Q3 2003 but beat economists’ expectations. Ad holding company stocks were mixed at week’s end. On the Big Board, Omnicom shares were up 3.6 percent to close the week at $82.07, thanks in part to a Smith Barney Citigroup upgrade from “hold” to “buy,” while IPG rose 1.4 percent to close at $16.95. WPP, trading as American Depository Receipts on the Nasdaq, fell 5 percent to $56.29 despite reporting an 18 percent rise in pre-tax profits for 2003 on Friday. A soft ad economy foreseen in Britain and Western Europe for 2005 offset WPP’s positive news.