For the first time in its 121-year history, the Dow Jones Industrial Average gained more than 5,000 points in a single year, according to CNBC.
The major stock index set that record Dec. 18, following a 140-point rally and a new record closing high. CNBC.com also noted that there had been 70 closing highs for the DJIA in 2017.
The three broadcast networks often failed to report those records and when it came to the 5,000 point gain milestone, two out of three were silent again. Of the ABC, CBS and NBC morning and evening news programs on Dec. 18 and 19, only CBS This Morning mentioned it. The evening programs said nothing, nor did Today or Good Morning America.
This Morning co-host Anthony Mason announced that the Dow made “history” with those 2017 gains and quoted President Trump’s celebratory tweet about it — but even that was a mere 27 seconds total for the significant economic news.
Underreporting good economic news has been a problem on the networks all year.
Other media outlets including USA Today and The Washington Post acknowledged the brand-new record, although the Post did its best to throw cold water on it with “broader context,” like mentioning the 1990s boom (which those who lived through it recall eventually busted) and noting that 5,000 points “is a smaller increase relative to the market than the country has seen before” because the index is so much higher.
Meanwhile USA Today pointed out that the “latest surge” was “powered by Wall Street’s positive reaction to the Republicans’ tax-cut plan, which appears to be on track to pass this week.”
“If the bill becomes law, it could provide a fresh boost to U.S. growth and corporate earnings,” USA Today continued.
