Stock traders reacted with glee as Federal Reserve Chairman Ben Bernanke told the National Association for Business Economics that unemployment is still too high and the Fed will stay on its course of keeping interest rates low to encourage economic growth. The Dow Jones Industrial Average rose 161 points, or 1.2%, to 13,242. Broadcasting stocks rose with the tide.
The RBR Radio Index was up 2.340, or 0.6%, to 378.391.
The TVBR Television Index was up 4.490, or 1.7%, to 268.667.
Entercom, up 4.6%
CC Media, up 4.3%
Arbitron, up 3.5%
Emmis, down 5.4%
SBS, down 2.9%
Beasley, down 1.8%