Wall Street embraces Fed comments – 11/2/11


The Federal Open Market Committee that it would likely keep interest rates low through at least mid-2013 was welcomed on Wall Street, as were comments by Ben Bernanke that the Fed will do what is necessary to boost the economy. The Dow Jones Industrial Average rose 178 points, or 1.5%, to 11,836. Broadcasting stocks rose with the market, led by Sinclair with its big acquisition announcement.

The RBR Radio Index was up 6.351, or 2.3%, to 288.372.

The TVBR Television Index was up 13.611, or 5.8%, to 247.005.

Sinclair, up 19.3%
Dial Global, up 17%
LIN, up 8.1%

Entercom, down 7.3%
Salem, down 3.2%
Beasley, down 1.8%