Newsbusters is reporting how differently the news media treated Fridays 280 point loss in the stock market with Mondays 286 point gain. As you can guess they accentuated the negative with hardly letting us know the positive.
One example:
CBS Evening News, Friday August 3:
KATIE COURIC: On Wall Street today, it took just a few words from one man to spark a big sell-off. Bear Stearns CFO Sam Molinaro said the turmoil in the credit markets is the worst he’s seen in 22 years. With that, investors headed for the exits, and the Dow plunged 281 points. So, since hitting a record high 14,000 two weeks ago, the Dow has now given up more than 800 points.
Wall Street didn’t much like today’s jobs report either. It shows the unemployment rate edging up in July to a six-month high of 4.6 percent. The Labor Department says the economy was able to create only 92,000 new jobs.
CBS Evening News, Monday August 6:
COURIC: “On Wall Street, after Friday’s big sell-off, a big rally. The Dow today got back all the points it lost on Friday and then some.”
Pretty clear which news they like reporting best.
