According to the News Hounds web site, which tracks the Fox News channel, Neil Cavuto doesn’t understand why the stock market fell on Wednesday.
It wrote, “Neil Cavuto opened his show today (June 7, 2006) with a shot of the ‘big board’ and ‘news’ that the Dow was down and ‘earlier gains’ were erased by the anthrax scare at the British parliament.
“Comment: I searched high and low through the business news sites and couldn’t find any reference whatsoever to the Dow falling due to that scare. It fell due to inflation fears and concern that the economy is slowing. Fear (closely followed by hate), is the #1 topic on the Bush News channel and the #1 priority of the ‘business news’ department (which Cavuto heads) is hiding how The Decider has screwed up the economy. Cavuto’s opening must have been a no-brainer for the foxes guarding The Decider’s hen house.”
I’ve always hated market coverage that speaks with authority as to why the market rises or falls on a certain day. Does anyone really know?