U.S. ad spending sank nearly 4% in the third quarter with outdoor, Spanish-language TV, radio and paid search showing growth — to $36 billion. Kantar Media says the quarter witnessed a 3.7% fall, with 16 of 22 different media types declining. The nine-month period was down 4% versus the same time period a year ago. Results do not include mobile and online video advertising, the media research company says. TV ad spending was down 3% — with broadcast network TV faring the best of all TV platforms, down 1% for the quarter.
Stocks spent most of Thursday morning little changed, but moved steadily higher after investors had a chance to work through the minutes from the Fed’s September policy meeting.