Stories That Go Bump In The Night
Did you ever wonder how morning shows like "Squawk Box" manage to get guests on the air to talk about stories that broke in the middle of the night, when people aren’t generally awake?
Answer: the producers and anchors get very little sleep and work very hard.
In some ways, we love breaking stories that happen during “off-hours” for the markets. That means they’re fresh for our morning shows, and if they involve a stock’s reaction, it keeps it that much fresher all day.
This happens more often than you might think. Rio Tinto’s bid for Alcanofficially hit the wires as a press release at 2:42am ET Thursday morning. Home Depot’s profit warning earlier this week suddenly came out of nowhere around 4am. Today’s monthly retail sales numbers were led by Costco, which routinely reports before 5am.
Considering it’s a routinely slow period of the year, the news was flowing fast and furious today. Kudos to the Squawkers who somehow manage to get those guests on, even if they have to wake them up to do it!