Strength In Numbers

The Dow Jones industrial average finished strongly last week, ending at 10,469 as a better-than-expected jobs report propelled gains on Friday. The U.S. Labor Department said non-farm payrolls increased by more than 300,000 in March, more than triple expectations. Enthusiasm was tempered by a slight rise in the unemployment rate, from 5.6 to 5.7 percent. Fitch Ratings heralded good news for the ad sector, saying 2004 could be the strongest year for the industry in quite some time, citing the Olympics, higher GDP and the presidential election. As a result, ad stocks were up sharply on Friday. On the Big Board, Omnicom shares climbed 4.3 percent for the week to close at $82.16, while IPG’s stock price rose 5.4 percent to $15.90. WPP, trading as American Depository Receipts on the Nasdaq, was up 7.2 percent to close at $53.76.