Many European markets were closed on May 1st, the workers’ holiday, and the Wall Street focus was on a good report about US factory activity. The report from the Institute for Supply Management showed April growth in US manufacturing the strongest in 10 months. The Dow Jones Industrial Average rose 66 points, or 0.5%, to 13,279. Dow Jones Indexes notes that this is the highest close since December 28, 2007. Broadcasting stocks, however, were mixed.
The RBR Radio Index was up 4.916, or 1.2%, to 421.120.
The TVBR Television Index was down 2.743, or 1.1%, to 245.975.
Radio One, up 8.9%
Emmis, up 6.5%
CC Media, up 5.3%
Dial Global, down 7.1%
Cumulus, down 6.1%
Entravision, down 4.5%