As the Dow Jones Industrial Average neared the 20,000 mark for the first time in history, the index set 16 closing-day record highs since Donald Trump’s election.
Even some liberal media outlets have drawn a direct connection between the soaring stock market and Trump’s election, going so far as to label it a “Trump stock market rally.” But the broadcast networks often ignored any connection.
In just over a month’s time, ABC, CBS and NBC evening news shows aired fewer stories combined than the number of records. The evening shows reported the market records in just 11 stories between Election Day and Dec. 13, despite huge investment gains. Forty-five percent of those stories ignored Trump in their market reports (5 of 11).
While some in the media — even The New York Times — reported that Trump’s pro-business posture was responsible for the soaring stocks, networks only tied Trump to the hike in six stories since Nov. 8.
ABC World News Tonight reported on Dec. 13, that the Dow Jones Industrial Average (DJIA) reached its “16th record high just since the election” and came “so close” to 20,000 points. World News didn’t link Trump’s election to it.
On the same day, Marketwatch specifically credited Trump with the post-election rally.
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Marketwatch markets reporter Sue Chang said that major indexes reached record levels “over optimism that President-elect Trump will usher in a new era of economic boom on the back of higher fiscal spending and pro-growth policies.”
The liberal Times reported that J.P. Morgan & Chase CEO Jamie Dimon attributed the stock rally and a prospect for higher growth to Trump’s win. Dimon described the rally as “based upon the hope, which I hope is accurate, that the Trump administration will be very good for unleashed business per se.”
NBC Nightly News and CBS Evening News reported only three stories each on stocks. Nightly News gave the president-elect credit in only one story.
On Dec. 13, Nightly News touted “another record close” in the stock market as the DJIA closed at 19,911.21, tantalizingly close to a 20,000 point milestone. Yet, the report did not credit Trump.
CBS Evening News came very close to crediting Trump on two occasions, but stopped short. On Nov. 22, anchor Scott Pelley reported the “post-election rally propelled Wall Street to a record high,” but didn't mention Trump — the person who won the election the story referred to.
As the Dow climbed to the first post-election record high Nov. 10, CNBC.com reported “Dow rips to all time high as investors embrace Trump presidency.”
The Times suggested on Dec. 9, that Trump’s election created a “honeymoon” economy, and wrote about the “Trump Stock Market Rally.” CNN Money online used the same phrase on Dec. 13.
