Cavuto: Stock run-up favors Republications

The News Hounds web site noted that Fox TV’s Neil Cavuto has been arguing that the recent highs in the stock market favor the Republican party in November’s elections. However, a review of Bloomberg and Forbes didn’t find any similar coverage.

Fox Hounds wrote, “In his opening promo today (October 10, 2006), after a full-screen graphic that read, ‘DOW NEW ALL-TIME HIGH,’ Cavuto said that an upcoming segment would include the gang from Fox’s Saturday morning ‘business news’ show, Bulls & Bears, and that they would tell us why, ‘all this North Korea talk is helping Republicans and, they say, stocks.’

“A few seconds later, over a shot of the ‘big board’ with the final number still being tabulated, Cavuto said, ‘Well, it is looking in and out of record territory [up 9.36 points] yet again for the Dow. If so, it would be its fourth record in seven trading days. We’re keeping a close eye on it.’ The chyron at the time read, ‘Stocks Hold Their Own After North Korean Missile Threat.’

“Several minutes later, over a graphic that read, ‘GOP A-OK?’ and while heading to an ad and ‘news’ break, Cavuto promoted the Bulls & Bears segment again: ‘[S]tocks at historic and record levels today. Is the market telling us that the GOP isn’t in as much trouble as the polls say or just the opposite?’

“After the break, Cavuto returned his new fave full-screen graphic: ‘DOW NEW ALL-TIME HIGH,’ and again promoted the economy and the Bush administration vis-a-vis the Dow: ‘Well, if the markets are worried about rising tensions with North Korea, they have a funny way of showing it. A record today. Oil a lot lower today. And, as we said, the Dow up 9.36 points. Good enough for a record, but barely so. 11,867.17. In case you’re counting, [inaudible] average is up about 10-1/2 percent year-to-date.’

“Minutes later, another promo: ‘Well, if you think the Democrats have the election all wrapped up, why are stocks telling a different story? Or maybe they’re acting the way they are precisely because that will be the end story. The Bulls & Bears crew on that’ next. The chyron: ‘WALL ST’S VOTE!’

Read more here.