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Turn Signals

The AdMarket lost 18,100 U.S. jobs in January, the biggest drop since ad industry employment hit its post-recession nadir in Jan. '04. January, as business slows post-holiday, has been the top month for job cuts in advertising/marketing services and media in four of the past five years ('01, with recession and 9/11, was the exception). The Jan. '06 AdMarket job tally (1.56 million) was lowest in a year but up 28,000 from Jan. '04.

Admarket 50

Focus on: Dow Jones Wilshire 5000 (DWC)

Alan Greenspan complained about the market's "irrational exuberance" in Dec. 1996, but stocks kept climbing till the bubble burst in 2000. The Dow Jones Wilshire 5000, the broadest market index, peaked six years ago this Friday. It plunged 50% to its nadir in Oct. '02 but roared back. Last week, it topped 13,200, highest since '00. The current level would have been a record any month prior to Nov. '99.

Last Week's Score

Sears hit its highest price since August. The stock market showed broad gains, but the AdMarket remains below January's 52-week high.
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