• 677 days Will The ECB Continue To Hike Rates?
  • 677 days Forbes: Aramco Remains Largest Company In The Middle East
  • 679 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,079 days Could Crypto Overtake Traditional Investment?
  • 1,084 days Americans Still Quitting Jobs At Record Pace
  • 1,086 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,089 days Is The Dollar Too Strong?
  • 1,089 days Big Tech Disappoints Investors on Earnings Calls
  • 1,090 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,092 days China Is Quietly Trying To Distance Itself From Russia
  • 1,092 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,096 days Crypto Investors Won Big In 2021
  • 1,096 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,097 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,099 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,100 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,103 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,104 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,104 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,106 days Are NFTs About To Take Over Gaming?
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

  1. Home
  2. Markets
  3. Other

Good News - Bad News

"If you don't read the newspaper you are uninformed, if you do read the newspaper you are misinformed." - Mark Twain

Monday was a tough day for the financial press, as most volatile days are. These headlines are from AP (via Yahoo.com) after the mid-day reversal:

Which is it? Did "Housing Woes Buoy Wall Street" or did "Weak Housing Market Scares Away Buyers"? Neither, market activity created both stories, and it's a sure bet that housing data had nothing to do with Monday's market action.

The financial reporters have it backwards, and run around finding reasons why the market is up or down. They feel compelled to match a news story to market activity.

AP/Yahoo are not alone. Television and radio carry similar stories, and embellish them with bylines like "everything you need to know" or "we'll tell you why."

Reporters should stick to reporting - report market action, and report the news, but don't credit a popular story with creating the market.

I wonder what Mark Twain would think of the internet?

 

Back to homepage

Leave a comment

Leave a comment