Stocks rebound on Fed reassurance – 8/9/11


Stock prices shot up in late trading Tuesday after the Federal Reserve’s policy making committee issued a statement indicating that it intends to keep interest rates low “at least through mid-2013.” The Dow Jones Industrial Average ended the session with a gain of 430 points, or 4%, at 11,240. Nearly all broadcast stocks were up, reversing the previous day’s retreat.

The RBR Radio Index was up 19.021, or 7%, to 292.049.

The TVBR Television Index was up 16.009, or 8%, to 217.217.

Entravision, up 27.7%
Westwood, up 21.2%
LIN, up 16.1%

Gray, down 5.9%
CC Media, down 4.9%
ACME, down 4%