The 24/7 investment media like CNBC needs to keep things interesting to keep you watching all in the name of selling more ads. Their favorite trick is to show the great importance of that day’s news and how it affected the S&P 500 (SPY).
That means that on Thursday they were telling people why things are so terrible and why stocks are down. And then Friday they put on a broad smile talking about how Fed whispers of potentially less stringent rate hikes led to a monster rally.
