Stocks gained for second day on Fed hopes – 8/31/11


Indications from the Federal Reserve that it is prepared to take more stimulus moves boosted stock prices for the second day on Wednesday. Prices were even higher in early trading before the DOJ revealed that it had sued to block the AT&T acquisition of T-Mobile. The Dow Jones Industrial Average moved back into positive territory for 2011, gaining 54 points, or 0.5%, to 11,614. Broadcasting stocks , however, were mixed.

The RBR Radio Index was up 3.086, or 1.1%, to 298.206.

The TVBR Television Index was down 5.829, or 2.8%, to 204.653.

Emmis, up 13.4%
Salem, up 3.7%
Radio One, up 2.1%

Entravision, down 8.1%
Nexstar, down 6.3%
ACME, down 4.1%