U.S. financial markets ended the week on a highly positive note, as the Dow Jones Industrial Average jumped ahead 84.65 points, to 21,637.74, and the Nasdaq composite increased by 38.03 points, to 6,312.47.
Fueling the improvement among media stocks is Nexstar Media Group, the broadcast TV company founded and led by Perry Sook. Nexstar enjoyed a 2.3% jump, to $63.15, as shares rebounded to their highest point since May 9.
Trading was heavier than normal, with 1.2 million shares exchanging hands.
Much of the momentum could be tied to a new affiliation agreement between FOX and Nexstar that extends for the first time to OTT, over “over the top” platforms.
Meanwhile, tech darling Snap Inc. continued to struggle on Wall Street, falling 2.7%, to $15.27.
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