The Federal Reserve’s “Beige Book” indicated that the economy is picking up in 2011 and that optimistic outlook gave traders an excuse to buy stocks. The Dow Jones Industrial Average rose nine points to 12,067 – not much of a gain, but a gain nonetheless. Broadcasting stocks were also up.
The RBR Radio Index was up 6.604, or 1.7%, to 406.639.
The TVBR Television Index was up 1.574, or 0.6%, to 261.612.
Winners
Gray, up 6.3%
CC Media, up 6.3%
SBS, up 5.4%
Losers
Entravision, down 4.1%
Fisher, down 1.8%
Entercom, down 0.8%
