small gain: U.S. ad agency employment rose in July for the second consecutive month, edging up 200 jobs to 183,500 vs. June. It's hardly a robust recovery, but it's the first two-month growth spurt since agency employment peaked in August 2000 at 202,800.
Note: June 2002 figure is revised
Source: U.S. Bureau of Labor Statistics
Saber-rattling hurts stocks: The anniversary of the Sept. 11 attacks was a short, tame trading day in the stock markets, but talk of war against Iraq made investors nervous. Higher unemployment claims and a higher trade deficit also spooked investors, even as brighter numbers for inflation, retail sales and consumer spending turned up late in the week. The AdMarket ended the week flat, with 25 stocks up and 25 down.
Cordiant Communications Group gained after it announced a restructuring and new CEO appointment Sept. 6, while Univision Communications slumped after regulators requested more information on its bid to acquire Hispanic Broadcasting Corp. H.J. Heinz dropped after it reported lower earnings, which management blamed partly on higher marketing costs.
Advertising Age and Bloomberg's AdMarket 50 index of 50 top publicly traded marketer, agency and media companies for the week ended Sept. 13 based on stock trading data supplied by Bloomberg financial news service. All comparisons are vs. closing prices Sept. 6.