The hints keep coming – the economy is improving to the extent that the prime rate may go up in September. Stock traders aren’t buying that one. Radio and television stocks we follow both fell, but iHeart bucked the trend.
The RBR Radio Index fell 5.111, or 0.8%, to 678.417.
The TVBR Television Index fell 7.043, or 0.7%, to 961.440.
iHeart, up 7.6%
SBS, up 2.4%
Media General, up 0.6%
Emmis, down 5.4%
Entercom, down 4.5%
Cumulus, down 2.8%