Cheerleading, TV Financial News Style

Today was one sterling example of tv financial news cheerleading.  Unlike in real sporting events, these cheerleaders root for both sides.  They seem to love market sell-offs, the 200-points-down days;  they love, as well, when the market hits a record high, especially if it ends in a double zero.  (Remember the hysteria complete with baseball caps when the Dow first broke though 10,000?)

Which is to day this:  don't put too much weight in stock market futures as reported for several hours before the markets open. At best they indicate the immediate action when trading commences and thereafter a whole host of seemingly unrelated factors decide ultimate market direction.  An hour before the markets opened this morning, the Dow futures were down something like 140 points.  And here is what happened today: