Stocks Bounce Back from Capital Gains Tax Worries


U.S. financial markets were largely in recovery mode on Friday, after concerns that the Biden Administration would increase capital gains taxes sent general indices down sharply on Thursday.

How did media stocks fare?

Townsquare Media gained 11 cents to finish at $9.88.

Also gaining ground: The E.W. Scripps Co., up 16 cents to $22.99.

Sinclair Broadcast Group also improved nicely, with a 26-cent rise to $32.62.

Heading downward on Friday was TEGNA, which is again fending off a quest by dissident shareholder Standard General for a greater presence on the company’s board of directors. At the closing bell, TGNA was at $20.97, off 19 cents.