*Playing down the rally

The Dow is up around 100 points as of this writing, so it's looking like 15 out of 16 up days. And yet, the papers don't seem very interested - certainly not the way they were after the big selloff on Feb. 27. Grumpy Editor notes that most all the big dailies - with the exception of USA Today - chose to bury news about the Dow hitting an all-time high this week. It would be nice to believe that the explanation involves more than bidness jackels only wanting to blow up the bad stuff. Perhaps they're unenthused because Wall Street is unenthused. Many analysts clearly hadn't expected the strong earnings that have been reported so far. Ryan Detrick of Schaeffer’s Investment Research, says that a recent slash in profit forecasts might have been "a little too extreme." Of course, there's still a bunch of companies yet to report and perhaps bad news awaits. But not so far. If the market holds up for the next three hours, let's see what kind of coverage a 12,900+ Dow receives.

*Update: Another record high - and a big day overall. The Dow closed at 12,961.98, up more than 153 points for the session, or 1.2 percent.

More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent stories:
Siri versus Hawaiian pidgin (video)
Letter from Down Under: Welcome to the Homogenocene
One last Florida photo
Signs of Saturday: No refund
'I Am Woman,' hear them roar

New at LA Observed
On the Media Page
Go to Media

On the Politics Page
Go to Politics
Arts and culture

Sign up for daily email from LA Observed

Enter your email address:

Delivered by FeedBurner

Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
LA Observed on Twitter and Facebook