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Fox Greatly Exaggerates Bush's Affect on Wall Street

Reported by Melanie - January 28, 2008 -

According to Reuters and Bloomberg and Forbes and BusinessWeek, to name but a few, the Dow rose today (January 28, 2008) because traders are optimistic that the Federal Reserve will cut interest rates when it meets tomorrow.

Then there's Fox "business news." According to Fox the, "Dow Jumps 177 Pts. Ahead of the State of the Union Address."

Comment: Poor Fox. They're still touting Mr. 31%. They're still pretending that the country, and the world for that matter, hang on his every word. Cavuto even advertised that they are going to cover the speech live on the Fox Business Network and while Bush speaks, they're going to show a ticker that will simultaneously reflect what the futures market is doing. Oh, and they're going to show the Asian stock market too. You can be sure, if either of them rise, Cavuto will credit the greatness of George W.

Here's more on why I'm pretty sure Wall Street doesn't give much of a sh*t about what George says tonight.