Media stocks got a reprieve Wednesday after two turbulent days of trading on the major stock indexes.
Almost all of the key entertainment industry stocks closed the day in positive territory after taking hits on Monday and Tuesday. Netflix was an exception, staying essentially flat for the day with a 0.33% decline to $105.44, which came on the heels of an 8% slide on Tuesday.
The Dow ended on a up note with a gain of 293 points, or 1.8%, after a plunge of 470 points on Tuesday. The Nasdaq finished the day up 2.4% and the S&P 500 upticked 1.83%.
Apple rebounded with a 4.2% gain to $112.34. Viacom led the traditional media pack with a 3.3% bounce to close at $41.58. Disney rose 2.39% to close at $101.89. CBS Corp. ($44.29), 21st Century Fox ($27.17), Comcast ($55.68) and Discovery Communications ($26.75) were up about 1%-2%.