Jeff Poor of the Business & Media Institute writes that the business media has all but ignored the fact that the Dow Jones Industrial Average broke the 14,000 mark for the first time earlier this week.
Poor wrote, “Katie Couric briefly mentioned it on the CBS ‘Evening News,’ and ABC ‘World News’ ignored it on July 17. The New York Times buried it on page 10 of the business section July 18.
“NBC ‘Nightly News’ was the exception – leading its broadcast with the Wall Street story which included an admission that ‘a lot more people than you would think’ are making money from the markets.
“‘Earlier this afternoon, when the closing bell rang on the opposite coast on Wall Street in New York, the Dow Jones industrials hit an all-time high, up again more than 20 points, to close painfully close to that 14,000 mark, having briefly climbed above it earlier in the day,’ said anchor Brian Williams.
“But media coverage of Dow milestones has been mostly pessimistic. Every time the Dow broke through a milestone – the 11,000 on Jan. 10, 2006 all the way up to its passing of the 13,000 mark on April 25, naysayers in the media cast doubt on the possibility of a continued climb.”
Read more here.
