The TV Newser blog posts comments from readers who argue that CNBC is once again becoming a cheerleader for the stock market in the wake of new records for the Dow Jones industrial average.
“It was ‘breaking news’ as the Dow approached 12K last week.
“It was ‘breaking news’ when we hit Dow 12K last week.
“Now it’s ‘breaking news’ that there’s a new intraday high.
“Mathematically, unless the Dow goes down, there ALWAYS will be a ‘new intraday high,’ correct? So my question to CNBC is this: so what? Are they going to roll out a ‘new intra-week high’ alert after the Friday close? Then a ‘new intra-month high’ alert? Where will this crass ‘breaking news’ tripe end with them? The network’s close to losing me as a longtime and loyal viewer.”
Read more here.
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Let me start by saying I am a huge fan of CNBC. Whether on TV, or Sirius radio, just gotta have it..However, to your point. They are selling out in terms of glamorizing the market. In an attempt to "educate and inform" the general public, they are doing them a deservice by misleading them with all this cheerleading. CNN coverage did it in the first Gulf War, and CNBC is doing it with the market. People need to understand that there are risks associated with these activities. Yes, they have made it fun "BUY, BUY, BUY", but more objective, yeah, more boring commentary is actually needed.