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When in Doubt, Leave it Out

Reported by Melanie - January 19, 2005

The theme running through Fox News' business shows is that having George Bush in the White House is essential for a rising stock market, for a robust economy, for healthy corporations (and jobs), and for a prosperous country. Prior to the November elections, Fox insisted that the economy and the stock market would tank if John Kerry was elected but that it would soar under a second Bush term.

Despite Fox's giddy predictions, "the market" hasn't done very well this year. Yesterday saw Wall Street's biggest gain so far with the Dow up 70.79 points and the Nasdaq up 18.13 points.

Yesterday, during Your World w/Neil Cavuto, Fox aired live coverage of Condoleezza Rice's confirmation hearing. During Fox's live coverage, Cavuto broke in several times with the day's most important business news. Cavuto spoke for approximately eight to twelve minutes during the hour that would have been his show.

Here is what Cavuto said about the stock market in his short opening statement yesterday:

"I do want you to pay attention to what's happening at the lower right corner of your screen [where Fox displays the closing numbers from Wall Street] in what was going on with an update on Wall Street. The Dow up better than 60 points. The Nasdaq up better than 18."

At 4:12 p.m. ET Fox broke into Rice's confirmation hearings with another news update from Cavuto. Here is what he said then about the stock market:

"Ahead of this the Dow had been up about 71, points buoyed by expectations of strong earnings."

A few seconds later he said: "Also, pay attention to the market figures in the lower right portion of your screen. Up across the board."

At 4:36 p.m. Fox again broke into the Rice confirmation hearings and Cavuto said this about the stock market:

"In the meantime, in the lower right portion of your screen we'll keep reminding how the markets faired today. The Dow was up better than 70 points, buoyed by expectations of strong earnings and oil prices..."

Cavuto's show was back today with the usual hour of interviews, news breaks and stock updates. In contrast to the way Cavuto trumpeted yesterday's stock market gains, he barely mentioned the losses on the Dow or the Nasdaq today.

COMMENT: You know why? Because today the Dow fell by 88.82 points and the Nasdaq fell by 32.45 points. This wasn't supposed to happen with George W. Bush in the White House. When it comes to the reign of George W. Bush, the only news that's fit to "print" on Fox News is the good news. When the news is bad, leave it out.

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