The Big Three Stooges Censored Historic S&P 500 Close Above 3,700

It’s as if the ABC, CBS and NBC evening news shows have a vendetta against informing viewers about any historic news coming out of the stock market during President Donald Trump’s presidency.

The major S&P 500 stock index soared to close above 3,700 Tuesday for the first time in its history (3,702.25), according to CNBC. But that’s not all. Other stocks rose to “all-time highs” as well, including the Dow Jones (30,173.88) and the NASDAQ (12,582.77). The surge in the stock market was riding on the news that Pfizer — involved with President Donald Trump’s Operation Warp Speed — began to roll out its coronavirus vaccine in the U.K., “lifting hope of the economy recovering in the near future.” ABC’s World News Tonight, CBS Evening News and NBC Nightly News ignored reporting the S&P 500’s historic close during their December 8 broadcasts. The irony is that all three broadcasts reported the Pfizer news, albeit without saying anything about what happened simultaneously to the stock market.

I really do not have a problem with networks not reporting financial news. I typically have a problem when they do since their analysis is wanting. Even CNBC, Bloomberg, and Fox Business lack the ability to provide neutral analysis. They do the biding of big banks. Their analysts do one thing: influence prices in a direction that benefits them at the expense of individual investors.

Anyone that needs to know a quote can easily get it online. If you are trading then you certainly know prices as they will appear in your trading software. Do your own analysis. Don't rely on the analysis of others, particularly people on TV that do not trade for a living. They are not doers - they are takers. They are only correct after the fact. Think about that for a moment. They can tell you what the market did. Their reasons however are often wrong and they are promoting some kind of agenda. Rarely will they tell you correctly what the market will do, and when they do make predictions it is not based on experience or knowledge, after all these people do not trade for a living.

A few points.

1. They had no problem reporting the stock market news when we weren’t in the thick of an election season.

2. They only censored that and other economic news much more throughout the year because it benefitted the Trump campaign’s reelection bid.

3. Biased analysis is one thing, but ignoring news outright to just pretend it didn’t happen is ten times worse. I’m more accepting of biased opinion than deliberate ignorance.

4. Sadly, most people get all their news from ABC’s, CBS’s and NBC’s evening news shows. This is why they’re known as “The Big Three.” This means that if these outlets don’t report the news, it would be as if it never happened.

5. Most people don’t do their own research, so many Americans with retirement accounts will never know when they should be paying attention to how the stock market is performance.

You are absolutely correct in every point that you made. The solution in my estimation is educating people. That was sort of my point of my post. I was hoping to education some Freepers, and maybe they can pass that onto others.

I trade for a living. It is my only source of income. I do not trade on news, or I should say I avoid trading when there is major news. Currently, I am not trading any currency involving the USD and GBP. The dollar because of the election, and the pound because of trade negotiations (Brexit) with the EU. The reason I do not trade on news is irrational responses of small investors based on the misinformation they receive through an ignorant and deceptive media and the big banks that take advantage of that ignorance. That same type thing happens in all markets.

You wrote: 5. Most people don’t do their own research, so many Americans with retirement accounts will never know when they should be paying attention to how the stock market is performance. That's really important to personal finance. I've been thinking about traditional media and new alternative media lately. Traditional media is currently starving the public of information and entertainment. They just are not reporting it and not providing the entertainment. Completely unrelated to politics and finance, I love hunting and fishing, particularly off-shore fishing. Traditional media has overtime watered down programs on those two things. It went completely PC and down to a level that a lot of programming isn't even available. But guess what. Alternative media is filling the void. There are excellent videos and programs available, never to be seen on cable tv. I am nearly positive those videos/programs will be come more polished and produced. Someone is going to come along and really produce incredible content to make a profit. It's about three quarters the way there now.

The point of writing about all that is the same can happen to personal finance. The product produced by CNBC, Bloomberg, et al sucks. There's better out there now. I say let traditional media starve their customers. Eventually, people will find alternative media. That will be the death of traditional media. Everything traditional media ignores leads people to other sources.

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