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WHEW! STOCKS NOT TANKING, FOR ONCE
Dow Jones, Nasdaq Post Gains as Entertainment Issues Claw Their Way Back
With unemployment at a nine-year high, the ad market in the shitter and the broader economic outlook not so nice, especially in the wake of the recent horror, we must be thankful for small favors—including the stock market's modest rally this week.

The New York Stock Exchange closed Friday up 116 points to 8847 and change, an increase of almost 2%. The Nasdaq posted a larger percentage gain of 2.6 percent, gaining 38 points to 1498. Both indexes ended the week up significantly from their post-attack lows of last week.

There was some good news among entertainment and media stocks as well. AOL Time Warner gained 75 cents, or 2.32%, to finish the week at 33.10, well ahead of its Sept. 17 dip to 30 and closing in on its Sept. 10 price of 34.41. Viacom also made progress, advancing just under 5% to 34.95, but still off from its pre-attack level of 37.90. Disney made one of the biggest gains in the sector, jumping 1.07, or 6.1%, to 18.62, but then again, it had taken one of the biggest hits in last week's slide, dipping to a low of 16.98 on Sept. 20, off 6.60 from its Sept. 10 price of 23.58.

Vivendi Universal ended trading Friday .45 lower than its Thursday close to 46.35, a .96% decline. The good news, however, is that VU shares are now trading above their pre-attack price of 44.50, after having slid to 39.56 on Sept. 18.

Tempering these advances, however, is a profit warning from Sony, which dramatically trimmed its forecast in the wake of the New York and Washington attacks. According to the Associated Press, the company now says it expects to net 10 billion yen ($84 million), down from its most recent forecast of 90 billion yen ($755 million). Sony shares closed Friday in Tokyo unchanged at 4390 yen ($36.89), but that was before the company issued its profit warning.

Embattled EMI, meanwhile, maintained its partial recovery from Tuesday's 35% plunge (triggered by the company's warning that its profit would likely be off 20% for the year), though it did recede 2.55% on Friday to 239 pence ($3.51). That's still a long way off from Sept. 24's close of 330 ($4.85), but given the current climate, we're happy to consider it good news.

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