Stocks rise as Irene fizzles – 8/29/11


The limited damage from Hurricane Irene was only one piece of good news for Wall Street on Monday. Two Greek banks merged, providing a rare bit of positive financial news from a struggling European economy, and the US Commerce Department reported that consumer spending was up in July. The Dow Jones Industrial Average rallied 255 points, or 2.3%, to 11,539. It was also a good day for broadcasting stocks.

The RBR Radio Index was up 11.808, or 4.2%, to 294.706.

The TVBR Television Index was up 12.685, or 6.4%, to 211.691.

Radio One, up 16.9%
Entercom, up 11.8%
Entravision, up 10.2%

Westwood, down 3%
SBS, down 0.7%