TV stocks benefit from China syndrome
No, there wasn’t a nuclear meltdown – China’s central bank lowered interest rates and the US markets approved. Television stocks rode the wave, while radio issues were just on the plus side of even on average.
The RBR Radio Index rose 1.368, or 0.2%, to 714.993.
The TVBR Television Index rose 13.662, or 1.7%, to 840.825.
iHeart, up 5.5%
Nexstar, up 4.5%
Sinclair, up 3.1%
SBS, down 4.1%
Salem, down 3.3%
Beasley, down 2.4%