How Fox Biz’s Trish Regan covers a wild stock market
Before Fox Business, Regan was at Bloomberg Television, where she served as the anchor of the daily market-close program, “Street Smart with Trish Regan.” While there, she also anchored a series of primetime specials, including the network’s 2012 Presidential campaign coverage.
She joined the channel in 2011 and throughout her tenure interviewed some of the most prominent names in business, including: Virgin Group CEO Sir Richard Branson, World Bank President Jim Yong Kim, NSA Director Admiral Michael Rogers, activist investor Carl Icahn, former Secretaries of State Madeline Albright and Condoleezza Rice, former President of the United States Bill Clinton, and CBS Corp. CEO Leslie Moonves.
Prior to Bloomberg, Regan served as a markets and documentary anchor for CNBC where her “Marijuana, Inc.” special is still among the network’s highest-rated documentaries. She was also a regular contributor to NBC’s “Nightly News” and the “Today Show.”
She joined CNBC from CBS News in 2007, where her work as a financial correspondent for CBS “Evening News” earned her an Emmy nomination for investigative journalism. From 2001-2005, Regan was based in San Francisco where she served as a correspondent for CBS MarketWatch and anchored for the CBS affiliate, KPIX-TV.
Regan spent time working in the emerging debt markets group at Goldman Sachs and at hedge fund DE Shaw while pursuing a degree in American History at Columbia University.
Regan spoke by email Monday with Talking Biz News about covering the wild stock market fluctuations. What follows is an edited transcript.
What’s the major angle that you and Fox Business are covering with the stock market drop?
The market is seeing wild fluctuations. My goal is to help people understand and interpret these movements –and understand the consequences of the decisions our leaders are making. China, the threat of higher interest rates from the Fed, and plunging oil prices – they’re all playing a role in this volatility and are a central part of our coverage.
Fox Business had a special on the market Friday night. What else has it done with special content?
We’ve been reporting news pretty much commercial-free. We’ve also been putting a ton of content online and, there’s a lot of cross branding going on between Fox Business Network and Fox News Channel. For example, I’m on “The Five” tonight talking markets and what to expect tomorrow.
What did you do this weekend to prepare yourself for Monday?
Over the weekend, I spoke to several key sources, corresponded on email with some investors and economists, read a bunch of research and lined up guests for today’s show including presidential candidate and former HP CEO Carly Fiorina who says this market is long overdue for a correction.
What types of sources and reporting do you do when the market is moving like it is today?
I have a pretty vast Rolodex of CEOs, policy and government folks, and investors with billions of dollars on the line. So, I’m armed with background from some of the most brilliant minds in the world. Just recently three very smart people, billionaire investor Carl Icahn, Former Fed Chief Alan Greenspan and bond guru Bill Gross all warned of bubbles on my program. And, interestingly, here we are.
How do you respond to people who say that media coverage of market drops makes it worse?
That’s a question I get a lot. The reality is, the media may influence things on the margin — for example, consumer sentiment is affected by the news people consume. When you turn on the TV and see a lousy jobs report or a huge sell-off, you can’t help but react to the news. That said, at the end of the day, the market is the market. Decisions are made to buy and sell not because of how the media characterizes something, but because investors are gauging whether or not they can make money.
What’s the best takeaway for viewers to remember from the coverage?
When investors get spooked, they sell. And, selling begets more selling. I’d argue that valuations have been quite high, and people are realizing there just isn’t much growth in the world these days as they thought. Hence, the correction.
How do you explain the international impact on the U.S. stock markets in a way that the average consumer can understand?
I dig deep into the issues facing our economy. I have great guests – and I won’t let them talk in circles. Ever.
I love economics and markets – to me, this is exciting stuff. And, I think that excitement probably comes through. Viewers have learned that I’m passionate about the direction of our economy and country. Our economic future – and our kids’ economic futures (I’ve got three) – are critical. My commitment to the content is constant and people know it.
How do you make the content fresh throughout the day?
Well, when you’ve got an open stock market, you’ve always got fresh material. News is happening and moving markets every second of the hour I’m on the show.
What does bringing Wall Street experts on the air do for the coverage?
They bring knowledge and expertise. They know what it’s like to have billions of dollars on the line. Viewers want to know what they are thinking – what they’re worried about, what excites them. They’re an important part of my coverage.
When will you sleep?
(Laughs.) Considering I was here at 6:15 a.m. this morning, and won’t leave until 9:30 tonight – that’s a good question.