The potential end of the Hollywood writers strike sparked a jump on Monday in movie and streaming industry stocks, led by Warner Bros Discovery and Paramount with shares of Disney, AMC Entertainment, and Netflix also rising. Warner Bros and Paramount were the biggest gainers, up 1.44% and 1.5%, respectively. Disney rose 0.5%, while AMC was up 0.6%. Netflix edged higher by 0.5%.
Shares of several big media and entertainment companies tumbled Friday as investors considered the potential fallout from an impasse between cable giant Charter Communications and media titan Walt Disney Co. On Thursday, Disney said it had pulled major networks such as ESPN and ABC from Charter systems after the two companies could not come to terms on a renewal of their carriage license. Charter’s systems reach a little under 15 million subscribers in markets that include New York City and Los Angeles.
Wall Street rallied Tuesday after a round of reports suggested the economy is in better shape than feared. The S&P 500 rose 1.1% to resume an upward climb that had carried it earlier this month to its highest level in more than a year. The Dow Jones Industrial Average rose 212 points, or 0.6%, while the Nasdaq composite gained 1.6%. (Image: AP Photo/Julia Nikhinson)
The S&P 500 ended 0.1% lower after having been down as much as 1.2% earlier in the day. The Nasdaq composite also trimmed its deficit, falling 0.2%, while the Dow Jones Industrial Average eked out a 0.1% gain. The indexes all notched gains for the week.
A late-afternoon rally on Wall Street helped stocks close higher Friday, though the major indexes still wound up finishing lower for the week after several days of bumpy trading. The S&P 500 rose 0.5% after wavering between small gains and losses for much of the day. The Dow Jones Industrial Average rose 0.6% and the Nasdaq composite ended essentially flat after swinging between a 1% gain and an 0.8% drop.
Stocks turned lower on Wall Street in afternoon trading Friday, shedding all their gains from an early rally that followed the release of the government’s latest job market update. The report, which showed employers slowed their hiring in August, initially put traders in a buying mood, stoking cautious optimism that the Federal Reserve may not need to raise interest rates as aggressively in its ongoing bid to tame inflation. But the gains faded by mid-afternoon.
Stocks are modestly lower in choppy afternoon trading Wednesday as Wall Street closes the books on a rocky August that started off strong, but left the market deeper in the red.
NEW YORK (AP) — Stocks are tumbling in disappointment Friday after the head of the Federal Reserve dashed Wall Street’s hopes that it may soon let off the brakes for […]
The S&P 500 index slipped less than 0.1% as of 2:51 p.m. Eastern. The benchmark index notched a record high a day prior. The Dow Jones Industrial Average rose 121 points, or 0.3%, to 35,721 and is hovering around the record high set on Aug. 16. The Nasdaq fell 0.8%.
Stocks are wavering between small gains and losses on Wall Street Friday, and are still barely higher for the week. The weak showing follows a two-day rally that helped erase a slump earlier in the week.
Nearly every stock in the benchmark S&P 500 rose. It’s now up 0.6% for the week and has recovered from a from a sharp sell-off on Monday. The turnaround is more pronounced within the Dow, which is now up 0.8% for the week after having been down 1.9% for the week as of Tuesday.
Stocks were broadly higher on Wall Street Wednesday afternoon after the Federal Reserve signaled it may begin easing its extraordinary support measures for the economy later this year.
Stocks slumped on Wall Street Monday, mirroring losses overseas and putting the S&P 500 index on track for its biggest drop in almost a year.
It was a feeble ending to an up-and-down week of trading. The S&P 500 index lost 0.9%. The benchmark index had its second straight weekly loss. The Dow Jones Industrial Average fell 0.5% and the Nasdaq fell 0.9%.
The S&P 500 and Dow Jones Industrial Average hit fresh all-time highs on Friday as both indexes capped off modest gains for the week. The Dow finished the day up 15.53 points to close at a record 35,515.38, while the S&P 500 added 0.16% and finished at 4,468, a new closing record. The Nasdaq Composite ticked up just 0.04% to 14,822.90.
Shares in Viacom and CBS both declined more than 8% Wednesday as investors absorbed the details of the companies’ long-awaited merger during a broader stock market retreat. CBS stock closed at $44.62, 8% lower, and Viacom at $26.72, down 8.5%.
The Dow Jones Industrial Index added a massive 24.7%, but the Dow Jones U.S. Broadcasting & Entertainment index market grew only 7.8%. So-called FANG stocks — big digital media companies including Facebook, Amazon, Netflix and Google — posted eye-opening 50% improvements.
Wall Street signaled its approval of the massive Disney-21st Century Fox transaction, sending shares in Disney up 3% and Fox’s up nearly 7% Thursday.
It has been a wild, rocky ride, but Netflix, which ended its 15th year as a public company on Monday, is pacing ahead of Amazon as a dream investment. Since ending its first day of trading in 2002 at an adjusted $1.20 per share, Netflix stock has gained 12,997% to close Monday at $157.16.
Stock prices of six publicly-traded TV station groups had a rocky first half due to concerns over leverage as well as political, automotive and overall sustainability of the television business model. The companies bounced back a bit in the second quarter, but were still well below where they were on Jan. 1. Analysts, however, see signs for optimism.
U.K. media stocks crashed Friday morning in the wake of the shocking Brexit victory in the EU referendum. Shares in pan-Euro pay TV giant Sky were down almost 8% by noon, while ITV was down by almost 19%. The stock market woes extended to Europe as well, with French media titan Vivendi down 6% by noon London time and Italy’s Mediaset down more than 8%.
A new state-of-the-industry report says retransmission consent rate agreements and digital offerings are generating substantial cash flows and boosting investor confidence in station groups.
Thursday’s stellar stock market gains were followed by a lackluster rise Friday, largely due to a disappointing jobs report from the federal government.
The Dow rose 50.03 points, or 0.4%, to close at 12,220.59. It gained 362 points for the week, the most since a 512-point jump during the week ending July 9. The S&P 500 rose 4.14, or 0.3% to 1,313.80. The Nasdaq rose 6.64 points, or 0.2%, to 2,743.06. All three stock indexes gained more than 2% for the week, helping them erase losses following the March 11 earthquake that hit Japan.
Earnings growth has been strong across U.S. companies, which have benefited from higher revenue overseas. The government also said fewer people applied for unemployment benefits last week, evidence that layoffs are slowing.