Stocks whipsawed on Friday – 8/5/11


Thursday’s sell-off cast a dark cloud as stock trading began on Friday, but then came some good news: the government reported that 117,000 jobs were created last month, bringing the unemployment rate down a tenth to 9.1%. Still, that wasn’t enough to erase concerns about the global economy, so stock prices moved erratically. The Dow Jones Industrial Average was up, then down, then up, back down and finally up 61 points, or 0.5%, at 11,445. The overall market was mixed, with the Nasdaq Composite and S&P 500 in negative territory at the closing bell. Broadcasting stocks were also mixed.

The RBR Radio Index was up 0.132, or 0.04%, to 304.508.

The TVBR Television Index was down 6.234, or 2.76%, at 219.904.

CC Media, up 25%
SBS, up 7%
Westwood, up 5.8%

Radio One, down 11.9%
Nexstar, down 10.2%
Cumulus, down 10.1%