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Cavuto Reports the Opposite of What's True

Reported by Melanie - August 4, 2005

Every day before I watch Your World, I do a little research to find out what "the markets" did and what the buzz on "the street" was. Today (August 4, 2005), the Dow and the Nasdaq were down significantly because, according to Fox News.com, Retail Sales, Oil Worries Push Stocks Lower.

Not 15 minutes later, I watched and listened as Neil Cavuto introduced a segment titled "Keep on Spending," by saying that the price of oil hasn't "impacted" consumers, that consumers are "resilient," and that they're "still buying, buying, buying." He said, "You name the store, people were buying from that store." A chyron ran at the bottom of the screen that said, "What Will Slow Down Retail Spending?" as if it hadn't already happened.

Comment: CBS News, BusinessWeek, Forbes and many other sites concur that the market went down today because of slower than expected retail sales. The decline reflected "the street's" concern that the consumer is pulling back, possibly because of high oil prices. Yet, Cavuto reported the opposite. I couldn't believe what I was seeing. It was astonishing, and contemptible.

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