It is getting harder to downplay the recent stock market rally, but The New York Times tried to keep it quiet.
Fox Business Network anchor Stuart Varney blasted the Times’s lack of coverage of what he called the “Trump stock market rally.”
Varney pointed out on Feb. 27, that the Business section of the Times from the day before ignored the market’s historic gains since Trump’s election. His media criticism came just hours before a 12th straight record day for the Dow Jones Industrial Average.
“Just look what they're deliberately missing. Look what they are not telling you. $2.939 trillion worth of extra wealth created just since the election,” Varney complained during his program Varney & Company.
The rally has been unusual. Marketwatch reported that the Dow Jones Industrial Average closed up for the 11th consecutive day on Feb. 24, and “for the first time since 1992.” Each of the 11 days the Dow closed at a new all-time high, which Marketwatch reported hasn’t happened since 1987.
Varney said “nowhere in the entire section, front page or anywhere else, was there any mention of the Trump rally” and argued that the Times’s glaring omission was an “example of the dishonest media” that “has lost our trust.”
“The media cannot claim to be informing the people if they only cover the news that fits their political point of view,” Varney argued that this market rally was “worthy of the front page … but it doesn't fit the ‘show contempt for Trump narrative’”
The Feb. 25, Times, the Business section did briefly mention the 11-day Dow streak of record highs. But the story did not tout the event as big news and the newspaper did not credit Trump or mention how long it has been since something like this has happened.
After criticizing the Times for its lack of coverage, Varney predicted, “The media will jump all over the stock market if there is any kind of a pullback. That will be the Trump selloff."