Post-Storm Recovery

The job market continued to reel in October following the one-two punch that was Hurricane Katrina and high fuel prices, delivering half the job growth that was expected for the month, according to government reports. Still, stocks continued to put the catastrophic season behind, racking up a 75 point (3.58 percent) uptick on the Nasdaq, which closed Friday at 2,169.43 and a 127.79 point (1.23 percent) increase for the Dow Jones, which ended the week at 10.530.76. Ad stocks were mixed, with both WPP Group and Interpublic Group gaining, while Omnicom saw a slight reversal of the prior week’s substantial gain. WPP closed at $49.95 cents, up 48 points (0.97 percent), and IPG finished at $10.65, up .21 points (2.01 percent). OMC lost 1.40 points (1.66 percent), closing at $82.85. The prior week, the holding company chalked up more than 6 points after a positive third quarter earnings report.