Did Wall Street Signal It Wants Hillary?

By on Nov, 7 2016 with Comments 0

Stocks languished late last week as nervous investors sold their shares on renewed concerns of a tight fight for the White House come Tuesday.

On Sunday, the FBI revealed that it would not press criminal charges against Democratic presidential hopeful Hillary Clinton over her use of a private e-mail server.

The action led investors to buy across the board on Monday, in a sign of approval that Clinton now has a clear path to the White House over Republican challenger Donald Trump. The Dow Jones Industrial Average climbed 371.32 points, to 18,259.60.

Among the major gainers are Saga Communications (up 5.6%, to $42.30), Amazon (up 4%, to $785.18), Charter Communications (up 2.8%, to $257.30), Disney (up 2.1%, to $94.43), and Meredith Corp. (up 3.25%, to $46).

Cumulus Media couldn’t benefit from the good vibes, falling 2.65% to $1.10 ahead of Tuesday’s earnings release.

The RBR Radio Index rose 10.941, or 2.01%, to 556.063.
The TVBR Television Index rose 8.843, or 1.05%, to 854.773.

 

Gainers

iHeart, up 7.7%
Radio One, up 6.4%
Saga, up 5.6%

 

Decliners

Cumulus, down 2.6%
SBS, down 2.1%
Entravision, down 0.8%

 

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