Fed statement fails to inspire Wall Street – 12/13/11


The latest statement from the Federal Reserve said the economy is looking a teeny bit better, but it is staying the course with its monetary policies. Wall Street had hoped for new measures to try to spur economic growth. It didn’t get any and stock prices went down. The Dow Jones Industrial Average fell 66 points, or 0.6%, to 11,955. Only one component stock in our broadcast indices, Cumulus, was up for the day.

The RBR Radio Index was down 6.305, or 2%, to 303.238.

The TVBR Television Index was down 7.232, or 3.1%, to 229.292.

Cumulus, up 0.3%

CC Media, down 8.4%
Sinclair, down 5.3%
Radio One, down 4.6%