An unexpected rise in manufacturing activity in June sparked jubilation on Wall Street and sent stock prices higher as the second half of 2011 began. The Institute for Supply Management (ISM) reported Friday that its manufacturing index rose to 55.3% in June from 53.5% in May, while most observers had expected it to be down. The Dow Jones Industrial Average rose 168 points, or 1.4%, to 12,583. Broadcasting stocks rose with the market.
The RBR Radio Index was up 5.425, or 1.5%, to 363.502.
The TVBR Television Index was up 2.132, or 0.8%, to 275.336.
US stock markets were closed Monday in observance of Independence Day.
CC Media, up 7.1%
Entercom, up 6.2%
Saga, up 4.6%
ACME, down 21.6%
SBS, down 5.4%
Radio One, down 3.4%