Wall Street and IPOs
Nothing dominates business coverage in mass communication like Wall Street. During the day, viewers of CNBC or Bloomberg TV are bombarded with live reports from the trading floor of the New York Stock Exchange, along with a rolling tape of stock prices on the bottom of the screen. Yet few beginning business reporters, let alone experienced journalists, understand enough about what is happening to be able to write a cohesive and clear story about how the stock market performed in a single day, and why the stock prices of particular companies might have risen or fallen.
In actuality, the basic principle behind Wall Street is not that complicated. Reporters should think of Wall Street as a huge marketplace, where investors from all over the world gather each day to buy and sell stocks. Although there is an actual Wall Street, a lot of the trading occurs via computer from offices around the globe. And though the U.S. exchanges—New York Stock Exchange, American Stock Exchange, and NASDAQ—are open Monday through Friday from 9:30 a.m.- 4 p.m. for trading, trading in stocks of American companies now occurs virtually 24 hrs a day in overseas exchanges and after-hours markets using computers.