FBN Blasts Coverage Into Close With Wall To Wall Reporting

FBN Blasts Coverage Into Close With Wall To Wall Reporting

As the NASDAQ Composite (INDEXNASDAQ:.IXIC) was heading for its most significant loss since 2012 – and investors sensed a degree of panic take hold for the first time in recent memory – how did the major business news networks cover it?

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FBN blasts coverage into the close

One New York City media watcher pointed out to us that Fox Business News (FBN) blasted coverage into the close while CNBC and Bloomberg both rang their cash register.

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FBN “blew out their commercial breaks” for today’s last hour of trading to cover the “massive market selloff” that happened. Liz Claman’s Countdown to the Closing Bell was the only business network to provide continuous breaking news coverage of the drop, the source noted. 

Bloomberg and CNBC go to commercial breaks five time, according to source

During what can easily be described a big day, the NASDAQ Composite (INDEXNASDAQ:.IXIC) dropping 3% with its worst day since November 2011, Dow Jones Industrial Average (INDEXDJX:.DJI) chopping off 267 points, Bloomberg had roughly 15 minutes of commercials during the last 40 minutes of trading while CNBC had roughly 14 minutes of commercials (each had 5 commercial breaks each), the source said. FBN was live for the last 40 minutes of trading.

I guess FBN isn’t too worried about paying the salary of the high-priced “money honey” who anchors the morning news on the network.  As we had previously reported, an aggressive war for viewers is being undertaken by FBN, including advertising on CNBC’s regional broadcasts.

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Mark Melin is an alternative investment practitioner whose specialty is recognizing a trading program’s strategy and mapping it to a market environment and performance driver. He provides analysis of managed futures investment performance and commentary regarding related managed futures market environment. A portfolio and industry consultant, he was an adjunct instructor in managed futures at Northwestern University / Chicago and has written or edited three books, including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008). Mark was director of the managed futures division at Alaron Trading until they were acquired by Peregrine Financial Group in 2009, where he was a registered associated person (National Futures Association NFA ID#: 0348336). Mark has also worked as a Commodity Trading Advisor himself, trading a short volatility options portfolio across the yield curve, and was an independent consultant to various broker dealers and futures exchanges, including OneChicago, the single stock futures exchange, and the Chicago Board of Trade. He is also Editor, Opalesque Futures Intelligence and Editor, Opalesque Futures Strategies. - Contact: Mmelin(at)valuewalk.com
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