The Conference Board's Consumer Confidence Index slid again in September, after a drop in August. Consumers' outlook for the next six months remains relatively unchanged from summer, which should be a concern to retailers heading into the holiday sales period.
Markets shake off mixed signals: Oil prices continued to put pressure on investors and the consumer confidence index took another dive in September, but investors took good news of increased factory orders and higher construction spending-indicators of a strong economy-and ran with it. For the week, 40 AdMarket stocks were up and 10 were down.
The losing column was populated mostly with media companies, but a Morgan Stanley upgrade of Viacom helped the sector. Clear Channel Communications slumped after executives told an investor conference radio revenue will be flat for the third quarter. Walt Disney Co. dropped in mid-week after President Robert Iger told another audience that a deal with Pixar Animation Studios is unlikely.
Advertising Age and Bloomberg's AdMarket 50 index of 50 top publicly traded marketer, agency and media companies for the week ended Oct. 24, based on stock trading data supplied by Bloomberg financial news service. All comparisons are versus closing prices Sept. 24. Full data available on Bloomberg terminals under index BAAX.