All three networks on Monday broke in with special reports that the stock market plummeted over 1000 points. Yet, it was ABC that spun the bad news as time for Donald Trump to take ownership of the stock market. NBC, which hasn’t exactly promoted the idea that Trump had anything to do with last year’s gains, chided, “In the past, presidents have tried to shy away for taking too much credit for stock market games because on the flip side there's the possibility you own the losses too.”
With the Dow Jones Industrial Average taking another nosedive on Monday, the MRC’s Rich Noyes joined Neil Cavuto’s eponymous Fox Business Network program to discuss the findings of a study by MRC Business’s Julia Seymour that found a massive double standard from the major broadcast networks on stock market increases vs. tumbles.
When the Dow Jones Industrial Average “nosedived” by nearly 666 points on Feb. 2, it got plenty of network attention. In fact, it got more coverage than the two huge Dow milestones that preceded it — combined.
Although that one-day selloff was a 2.5 percent drop which followed huge gains, the networks emphasized the “worst week for stocks in two years.” ABC World News Tonight with David Muir, NBC Nightly News and CBS Evening News spent a combined 251 seconds on Feb. 2, covering the markets. Those same three shows spent about 33 percent more time on the selloff than on two major milestones during the prolonged stock market rally.
The Dow Jones Industrial Average closed above 26,000 for the first time on Wednesday. When it first jumped the 26,000 hurdle during Tuesday's trading, only to fall back at the close, CNN's Christine Romans somewhat surprisingly noted it. But as she did, she positively and erroneously spun the market's awful pre-presidential election history in a way that even some conservatives have ignorantly come to accept.
Speaking on the Friday edition of the Fox News Channel’s Your World, MRC President Brent Bozell came out swinging against the liberal media and their refusal to cover stories of economic growth under President Trump, telling fill-in host Trish Regan they “loathe him” so much that “if he finds a cure for cancer, they'll attack him for not curing AIDS.”
Liberal Washington Post opinion columnist David Von Drehle is sure President Donald Trump will face “a recession, slump, or God forbid, crash” before the 2020 presidential election — despite the strong economic gains so far under Trump. Von Drehle’s Jan. 5, opinion piece, “The Trump Recession is Coming,” was littered with economic language, but revealed his political bias. Von Drehle himself is not an economic analyst. He covers “national affairs and politics” for The Post and previously was editor-at-large at Time Magazine.
How many companies have to announce new tax law-driven bonuses and raises before the left and some in the establishment press finally stop calling them "PR stunts" or some equivalent? It's doubtful we'll ever know, because even though announcements continued well into this past week and have crossed the triple-digit mark with over 1 million employees affected, media interest in compiling or reporting on them has virtually ended.
CBS This Morning journalists on Friday actually credited the booming stock market, touting it breaking 25,000 as a “wow!” moment. Yet, while Congress, tax cuts and mysterious deregulation got praise, Donald Trump’s name was never mentioned. Asked by co-host Norah O’Donnell for the cause, Hobson gushed, “Wow! That is all I can say. It’s quite a start! We broke through lots and lots of records last year. Started this year off strong.”
This one's for the "They can't possibly believe what they're writing" file. Thursday morning, Ben White and Nancy Cook at Politico actually claimed that President Donald Trump is building "his 2018 political message by rebranding" predecessor Barack Obama's "economic legacy."
For the first time in its 121-year history, the Dow Jones Industrial Average gained more than 5,000 points in a single year, according to CNBC. The major stock index set that record Dec. 18, following a 140-point rally and a new record closing high. CNBC.com also noted that there had been 70 closing highs for the DJIA in 2017.
On Tuesday afternoon, MSNBC Live host Katy Tur reinforced the notion held by some that, quite simply, she’s not ready for primetime when it comes to being a substantive host. The latest example came when her far-left economic views ran into a buzzsaw against Republican Congressman and former economics professor Dave Brat.
White House Press Secretary Sarah Sanders asked on Twitter Dec. 17, “Which is the more underreported story of @Potus Year One? -Defeat of ISIS -Booming Trump economy.”
Her complaint about the economy was certainly correct. In fact, the very next day all three network newscasts ignored the news that the Dow Jones Industrial Average gained 5,000 points in a year for the first time in history. CBS This Morning did acknowledge that historic event on Dec. 19, briefly.