In his first-ever press conference, Fed chief Ben Bernanke downplayed inflationary worries and indicated that the Fed will maintain its low interest rate stance to boost economic growth. Wall Street traders loved it and sent stocks higher. The Dow Jones Industrial Average rose 96 points, or 0.8%, to 12,691. Broadcasting stocks, however, were mixed.
The RBR Radio Index was up 2.268, or 0.6%, to 403.639.
The TVBR Television Index was down 3.092, or 1.1%, to 276.946.
Radio One, up 3.9%
LIN, up 2.7%
Sinclair, up 2.5%
ACME, down 13.5%
Nexstar, down 1.9%
Westwood, down 1.9%