There are countless people who discount CNBC, but how can you dispute what it has done with the markets today. Aside from the various ABK spikes as Gasparino came on, nothing compares to the 13 point spike in GOOG as Goldman came on with a story that had been out for hours. The nas futures shot up too. So for all of you stock and futures daytraders who are now tuned in to Bloomberg, Fox Business, or godhelpyou, your Ipod playing Britney's greatest hits, CNBC can make you money. Just hold your nose and swallow as you endure the mindless palaver that comes between the newsbreaks.
Although "hold your nose and swallow", is not always good advice, you are correct. They move markets, and not always for the good.