AdMarket 50

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The month-long rally that nearly brought the Dow back to 10,000 fizzled late last week, knocked down by the official announcement of a recession and a revised gross domestic product that showed clear signs the economy is in retreat. (See story on

P. 3) Disappointing results from the first weekend of the holiday shopping season and the collapse of Enron added to the bad news. Twenty-one AdMarket stocks were up and 29 down for the week.

Wall Street still hopes for two holiday presents: Another interest rate cut by the Federal Reserve Board at its Dec. 11 meeting and passage by Congress of an economic stimulus package before year-end. Analysts warn the fall rally pumped up prices for some agency and media stocks to multiples that may be hard to justify if 2002 shapes up, as expected, to be another weak year for the ad business.

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