Gas prices have come down from July's $3.04 peak and are well below the all-time high ($3.20, adjusted for inflation, in March '81), but gas and motor oil this year will take the biggest share of household income since 1983. 1 The average new vehicle this year is the heaviest on record; that could change down the road if buyers shift to smaller, more economical vehicles. How gas prices and vehicle choices have changed since the '70s:
Focus on: INTERPUBLIC GROUP OF COS. (IPG)
IPG has rebounded sharply since it July 14 hit the lowest closing price ($7.86) since 1991. The market punished IPG after it in June unveiled a complex new credit scheme; CEO Michael Roth June 12 said he'd expected a stock drop because of the "unique structure" of that deal but added, "I expect through the rest of the year it will level off when the impact of this transaction is understood." Q2 results gave IPG a boost.
Last week's score
AdMarket hit its highest close since May '02-start of the ad rebound-on falling oil. Ford sunk from a midweek '06 high on its revamp plan.
submissions E-mail ideas for this column to [email protected]