Monday was the single largest rally in the history of the U.S. stock market, with the Dow Jones Industrial Average closing out the day up 1,293.96, or over five percent. The Wall Street bounce back came after a week of historic drops due to the effects of the coronavirus (COVID-19) on the global market. Despite the stunning rebound, the CBS Evening News wasn’t interested and instead chose to discuss how President Trump was still holding a campaign rally while the virus was spreading. Yet, they didn’t wag a finger at Democratic rallies.
In contrast, both ABC’s World News Tonight and NBC Nightly News made note of the stock market bounce-back amid their extensive coverage of the COVID-19 outbreak.
“And we took note of a big rebound in the financial markets today after last week. Of course, the worst week since the financial crisis in 2008,” reported ABC anchor David Muir. “Today, the Dow gaining nearly 1,300 points. The most points gained ever in a single day, up five percent. Investors encouraged by signals from the Federal Reserve they'll consider interest rates if needed and similar remarks tonight from financial ministers overseas.”
Muir did seem to hedge against the possibility of any additional positive movement by noting: “They do expect volatility ahead though.”
Over on NBC News, anchor Lester Hold kicked off a segment about how the Trump administration was handling the outbreak by first mentioning the stock market. “After the markets plunged last week, the Dow bounced back today gaining almost 1300 points. The impact of the coronavirus, among the many issues the Trump administration is dealing with, including development of a vaccine and travel restrictions,” he said.
Shortly thereafter, chief White House correspondent Hallie Jackson added: “On Wall Street, better news. Stocks soaring after last week’s coronavirus selloff. The Dow's biggest points gain just four days after its biggest points drop ever.”
A week ago (February 24), CBS Evening News anchor Norah O’Donnell made sure to cover the first day of the plunge. “Coronavirus fears wiped out all of this year's stock market gains! The Dow lost more than 1,000 points today. That's more than three and a half percent. The NASDAQ and S&P 500 also tanked,” she announced at the time.
Instead of covering the positive stock moves on Monday, White House correspondent Paula Reid struck a snide tone when reporting that the President was still planning to hold a campaign rally in North Carolina. “It's expected to draw about 13,000 supporters. And earlier today the President said that he believes it is safe to hold an event like this, even amid this larger outbreak,” she said.
CBS didn’t have the same concerns for campaign rallies when it came to the scheduled gathering for former Vice President Joe Biden where recent campaign dropouts planned to publically endorse him.
The transcripts are below, click "expand" to read:
ABC’s World News Tonight
March 2, 2020
6:41:33 p.m. EasternDAVID MUIR: And we took note of a big rebound in the financial markets today after last week. Of course, the worst week since the financial crisis in 2008. Today, the Dow gaining nearly 1,300 points. The most points gained ever in a single day, up five percent. Investors encouraged by signals from the Federal Reserve they'll consider interest rates if needed and similar remarks tonight from financial ministers overseas. They do expect volatility ahead though.
NBC Nightly News
March 2, 2020
7:07:52 p.m. EasternLESTER HOLT: After the markets plunged last week, the Dow bounced back today gaining almost 1300 points. The impact of the coronavirus, among the many issues the Trump administration is dealing with, including development of a vaccine and travel restrictions. Hallie Jackson is at the White House.
[Cuts to video]
(…)
7:08:48 p.m. Eastern
HALLIE JACKSON: On Wall Street, better news. Stocks soaring after last week’s coronavirus selloff. The Dow's biggest points gain just four days after its biggest points drop ever. The White House considering tax cuts to try to stimulate the economy according to an official familiar with the discussions. Though, the President is pointing to the Federal Reserve.
PRESIDENT DONALD TRUMP: I’m sure the Fed is looking at it. I hope the Fed is looking at it. They should be. But a lot of the central banks are looking at interest stimulus.
(…)
