14,000 Dow; ABC: 'There's a Good Deal of Worrisome Economic News'
Media Research Center
Repeating the downbeat spin employed when the Dow Jones Industrials passed 13,000 in late April and ABC's reporter warned "we're actually overdue for a correction," less than three months later when the Dow closed over 14,000, ABC's World News put the news into a "yes, but" framework. Fill-anchor Elizabeth Vargas on Thursday night led with the record high close, but fretted that "there's a good deal of worrisome economic news these days -- from sky-high gas prices to America's gaping trade deficit" and "yet," she marveled, "the market keeps marching on." Reporter John Berman began by emphasizing that though "the Dow went from 13 to 14,000 in just 3 months," this occurred "despite those serious jitters about the U.S. economy: $3 gas, a major housing slump -- a drag on the U.S. economy." Crediting the rise to overseas earnings, Berman pointed out that "while the economy in the U.S. is struggling along in a growth rate of less than one percent, it's racing ahead at nearly 11 percent in China with strong numbers in India, Russia and Brazil as well." Vargas followed up on a gloomy note, raising "disappointing earnings reports from Google," prompting Berman to predict: "It may mean that the mood tomorrow won't be quite so rosy."
Thursday's CBS Evening News wasn't as negative as it was back in April, but in his generally upbeat piece Anthony Mason contrasted the American economy with the international scene: "The U.S. economy doesn't look nearly as strong. Retailers just had their worst month in nearly two years. Gas prices are rising. And house prices are falling."
[This item was posted Thursday night on the MRC's blog, NewsBusters.org: newsbusters.org ]
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