Stocks fall despite debt deal – 8/1/11


Wall Street began Monday on the upswing, following Sunday evening’s announcement of a deal between the White House and congressional leaders on a debt ceiling/budget deal. But then came word from the Institute for Supply Management that its monthly index of factory activity took a drop in July. Stocks reversed course and headed down. The Dow Jones Industrial Average ended with a loss of 11 points, or 0.1%, at 12,132. Broadcasting stocks were also lower.

The RBR Radio Index was down 1.841, or 0.6%, at 331.252.

The TVBR Television Index was down 2.390, or 0.9%, at 256.300.

Westwood, up 13.6%
Sinclair, up 3.8%
Gray, up 2.5%

ACME, down 11.6%
Nexstar, down 6.1%
Saga, down 5.1%