Media Stocks Enjoy Uptick, Dow Jones Media Index Has Record Close

Media stocks had a modest rise this week -- up around 1.4%.

Dow Jones U.S. Media Index grew 1.4% for the week to 1,016.96, a new 52-week high. The Dow Jones U.S. Broadcasting & Entertainment Index was 1.2% higher to 1526.15, also a new 52-week high.

Much of the positive news — as well as for the market overall — came from the Federal Reserve, which hinted it could cut interest rates. The other positive news — the Trump Administration might start friendly talks with China concerning trade and tariffs.

Big digital media stocks led the way.

Netflix was up 9% for the five-day period to $369.21, while Google was up 4% to $1,124.37; Facebook 5.4% higher to $191.74; Amazon 2.2% more to $1,911.30; and Apple rising 3.1% to $198.78.

Traditional media stocks rose at a slower rate in general: Dish Network adding 4% to $39.01; Viacom up 3% to $35.49; Comcast Corp. also adding 3% to $43.56; CBS also up 3% to $50.47; and Charter Communications, inching up 0.7% to $394.69.

One of the better traditional media performers was Discovery Inc.-- adding 6% to $30.69.

Walt Disney was one of the few that declined -- sinking 1% to $140.23. Disney had a run-up the week before as several media analysts gave the company a big thumbs up on strong expectations for its new digital OTT platform businesses.

Major TV stations groups also participated: Sinclair Broadcast Group, 4.7% more to $54.05 and Nexstar Media Group, growing 2.5% to $101.72, with Tribune Media virtually unchanged, up 0.3% to $46.37.

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