I was briefly bored on Friday night, so I checked out the news on my iPhone. Thumbing down to the business section (and remember, this is on Friday night) I saw this as the top headline on Google News:
As you know, the market didn’t “surge” Friday, although the portfolios of bears did. Indeed, it was the biggest percentage drop on the NASDAQ in almost two years. The article provides details for unsuspecting readers who don’t follow the markets like Slopers do……….
(I did check their main web site last night, incidentally, and the exact same story was featured on their home page………..so for all those depending on the Deseret News for their financial data, you might think twice).
This just goes to show how clueless general media can be about the markets. Besides reporting the converse of what actually happened, they went on to offer an “explanation” using a term I thought had been laughed out of existence years ago………the Goldilocks market. Sheesh.
Me? I get all my news from the comments section. Thanks, Dollar!