Markets Rise On Quiet Day For Media Stocks


The overall mood for investors was positive on Tuesday, as the Dow Jones Industrial Average climbed 0.73% to 20,701.50. Nasdaq was up 0.60% to 5,875.14.

While Snapchat parent Snap Inc. had a rough session, with a 6.80% decline to 22.21, it was largely status quo for media stocks.

Viacom continued its strong growth spurt, climbing 1.35% to 44.91.

But the day’s biggest percentage gainer is resurgent radio industry player iHeartMedia. The company’s shares rose 3.00%, to an impressive finish of 3.61.

The news wasn’t so positive for the radio industry’s No. 2 player, Cumulus Media. Shares moved down 4.39% to 0.3203 on Tuesday following the company’s revelation in an SEC filing that it faces possible delisting from Nasdaq.