The day after Thanksgiving marked the start of what could be a strong holiday season for retailers. After years of declines, polls find consumers plan to increase their average spending on gifts. Since consumer spending makes up two-thirds of U.S. economic activity, strong holiday sales are a good sign for next year's activity.
Turkeys Trump GDP Growth News: A second upward revision in Gross Domestic Product growth and the strongest corporate profit growth in 30 years gave investors an early boost during a quiet holiday week. The GDP revision of third-quarter growth to 8.2% was a strong recovery indicator, along with forecasts of strong holiday retail and online sales, but low trading volume kept the gains in check. Only seven AdMarket stocks were down for the week, 43 were up .
Interpublic Group of Cos. dropped after losing the Coca-Cola Co. media consolidation to Publicis Groupe. Publicis later stumbled after news that McDonald's Corp. planned to consolidate its media at Omnicom Group (see story, P. 3), but later recovered.
Advertising Age and Bloomberg's AdMarket 50 index of 50 top publicly traded marketer, agency and media companies at the close of trading Nov. 26, based on stock trading data supplied by Bloomberg financial news service. All comparisons are vs. closing prices Nov. 21.
Full data available on Bloomberg terminals under index BAAX.