Stock Market Update
11-Sep-25 15:00 ET
Communication services sector rises on prospective entertainment deal
Dow +595.25
at 46086.17,
Nasdaq +161.06
at 22047.12,
S&P +53.20
at 6585.24
[BRIEFING.COM] The major averages are holding on to their impressive early gains as the market enters the final hour of trading.
The Wall Street Journal reports that Paramount Skydance (PSKY 16.46, +1.35, +8.91%) is prepping a majority cash bid for Warner Bros. Discovery (WBD 15.99, +3.45, +27.48%) backed by the Ellison family, though the size of the offer is unknown.
Warner Bros. Discovery shares spiked in response, making it the top gaining name in the S&P 500 today. The move helped the communication services sector (+0.4%) return above its flatline, with the sector also benefitting from Alphabet (GOOG 241.88, +2.32, +0.97%) shaking off early sluggishness to the tune of a nice gain
