Historic Gains

Wednesday's Example of Media Bias   —   Posted on March 1, 2017

Historic Gains

The New York Stock Exchange.

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Example of Media Bias:

On Monday, Fox Business Network anchor Stuart Varney noted the New York Times’s lack of coverage of what he called the “Trump stock market rally.”

Varney pointed out that the Business section of the Sunday Times ignored the market’s historic gains since Trump’s election. His criticism came just hours before a 12th straight record day for the Dow Jones Industrial Average.

“Just look what they’re deliberately missing. Look what they are not telling you. $2.939 trillion worth of extra wealth created just since the election,” Varney said.

The rally has been unusual:

  • MarketWatch reported that the Dow Jones Industrial Average closed up for the 11th consecutive day on Feb. 24, and “for the first time since 1992,”  and:
  • Each of the 11 days the Dow closed at a new all-time high, which Marketwatch reported hasn’t happened since 1987

“The media cannot claim to be informing the people if they only cover the news that fits their political point of view,” Varney argued, saying that this market rally was “worthy of the front page … but it doesn’t fit the ‘show contempt for Trump’ narrative.”

The Feb. 25 Business section of the Times did briefly mention the 11-day Dow streak of record highs. But the story did not report the event as big news and the newspaper did not credit Trump or mention how long it has been since something like this has happened. It’s historic.

After criticizing the Times for its lack of coverage, Varney predicted, “The media will jump all over the stock market if there is any kind of a pullback. That will be the Trump selloff.”  (excerpted from an MRC Business post by James Powers 2/27/17)

Watch the video with Fox Business Network anchor Stuart Varney:

Questions

1. Mr. Varney said: [Not reporting important news is] “dishonesty by omission.” What other type of bias is the lack of reporting on historic stock market numbers and example of?

2. Watch the video below the excerpt.  Mr. Varney asserts: “The media will not report news that is favorable to President Trump. Now that’s being dishonest. If you’re a professional in the media business, you report the news. Period. You tell people what’s happening. You don’t miss a whole chunk out because you don’t like it.” Do you agree with this assertion? Explain your answer.


Scroll down to the bottom of the page for the answers.
























Answer(s)

1. In addition to bias by omission, not reporting historic numbers in the stock market is bias by story selection.

2. Opinion question. Answers vary.