I concluded a long time ago that the media today draws a conclusion, and then writes an article to support it, even if an analysis of the data doesn't come close to supporting it. It really is to the point that reporting, IMO, is completely worthless.
An artilce I read this morning had this headline:
Retailers' sales beat expectations
So if you read that headline, would you expect to find the following paragraph within the article:
According to Thomson Reuters' revenue-weighted same-store sales index, overall sales fell 1.8 percent, double the expected decline, due largely to Wal-Mart's results. Excluding Wal-Mart, sales fell 5 percent, slightly better than the 5.2 percent drop that analysts expected.
C'mon. Retailers didn't come close to beating expectations. Sure, a few individual retailers may have, but as a group, they missed it by a mile.
If you would like to witness the complete train wreck, you can look here:
Retailers' sales beat expectations: Thomson Reuters Business News - MSN Money