Stumbling Block

U.S. stocks closed with mixed results on Friday, as a poor showing by blue chips put an end to an eight-week run of gains for the Dow Jones Industrial Average. Analysts put the blame for the dismal session on the expectation that earnings reports due next month are unlikely to deliver on hopes that the country’s economic picture is improving. “A lot of the earnings just don’t justify some of these multiples—especially tech, which has had such a run,” said Patrick Fay, director of trading at DA Davidson in Denver. Ad-industry stocks experienced some pull-back last week. On the Big Board, IPG dropped 0.8 percent to close the week at $16.84. British holding company WPP, trading as American Depository Receipts on the Nasdaq, slipped 2.5 percent to finish at $55.96. Only Omnicom was up, rising 0.2 percent to $86.15.