Dow, Nasdaq Climb As Word Of Stimulus Deal Sparks Wall Street


U.S. financial markets rallied from early dips on word that a big federal stimulus package was finally moving forward on Capitol Hill. The Dow Industrials average climbed 2,112.98 points — an 11.4% gain — to 20,704.91. Nasdaq rose 8.1%, to 7,417.86.

How did media stocks fare on Tuesday?

It was a big day for rebounds, as ViacomCBS surged by 30.8%, to $14.75.

American Tower Corp. shares gained 6.3%, to $190.37.

Beasley Media Group enjoyed a 15.5% increase, rebounding to $1.60 after significant share decreases in recent days.

Gray Television gained 25.9%, to $11.09, while a greatly deflated Nexstar Media Group gained back $10.03 with a closing price of $56.29.

Nexstar shares had recently been trading well over $100 per share.

Not all media companies enjoyed a recovery, however, as the bad news continues for Entercom. At the Closing Bell, a 4.3% decline to $1.46 was seen.

Also down: Entravision Communications, losing 7.5% of its share value, to $1.86.