Media Stocks Spike Along With Broader Stock Market's Second-Biggest Day Of The Year

Digital and traditional media stocks followed, for the most part, the broader stock market's strong hikes on Tuesday -- which witnessed the Dow Jones Industrials scoring its second-biggest move upward of the year.

The Dow Jones Industrial Index rose 2.1% (512 points) to 25,332 -- its best results since January. Moving the market upward was the result of speculation that the Federal Reserve might cut interest rates.

By way of comparison, The Dow Jones U.S. Broadcasting & Entertainment Index and the Dow Jones U.S. Media Index both rose 1.8% on Tuesday to 1,469.04 and 978.45, respectively.

In other market indices: The Nasdaq -- which did better than the Dow Jones Industrials -- rose 2.7% to 194.10, while The S&P 500 added 2.1% to 58.82.

Three of the better media performers were digital-minded companies, with Apple up 3.7% to $179.64; Netflix 5% higher to $353.40 and Roku growing 4.3% to $93.60. Other digital media-related companies also rose strongly, with Amazon adding 2.2% to $1,729.56 and Facebook rising 2% to $167.50.



Other stocks added 2% or more, with Charter Communications rising 2.7% to $387.67, Nexstar Media Group 2.1% higher to $101.29, and Dish Network adding 2% more to $36.25.

Walt Disney, Google, and Sinclair Broadcast Group posted mid-level market improvements on the day, with Disney up 1.8% to $134.82; Google rising 1.5% to $1,054, and Sinclair 1.7% higher to $54.54.

CBS and Viacom -- which had already seen stock market increases in previous days due to renewed talks regarding a long-anticipated merger -- posted smaller gains, with CBS up 1.2% to $48.81 and Viacom gaining 0.5% to $34.01.

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