The Dow Jones Industrial Average soared more than 272 points on Monday, carrying the cable sector along for the ride.
The Dow closed at 11,043.86 on Monday, as investors made bets that steps would be taken to resove the European debt crisis.
Cable stocks for the most part were on the upswing on Monday, riding the wave of optimism that swept most of the market. On the distribution side, Charter Communications rose 3.4% ($1.63) to $49.21; Cablevision Systems was up 2.7% (45 cents) to $17.44; Comcast rose 2.3% (50 cents) to $21.90; and Time Warner Cable increased 2% ($1.32) to $66.11 per share.
Satellite stocks also showed gains, with Dish Network up 3.3% (87 cents) to $27.63 and DirecTV up 2.8% ($1.17) to $43.19.
Programmers also had a good day, led by Discovery Communications, up 4.4% ($1.76) to $41.66 and Time Warner Inc. up 3% (86 cents) to $30.75 per share. The rest of the sector was up modestly with Disney rising 1.6% (47 cents) to $30.30; Scripps Networks up 1.4% (56 cents) to $41.29; News Corp up 1.3% (21 cents) to $16.34; and Viacom up 0.5% (23 cents) to $50.75 per share.
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