If you consider the media as being a mouthpiece for very wealthy investors with highly diversified portfolios this behavior makes a lot of sense. Materials go

If you consider the media as being a mouthpiece for very wealthy investors with highly diversified portfolios this behavior makes a lot of sense. Materials go up? Eh, they own both sides - food distribution, farming, etc. will all be included a diversified portfolio. Rent goes up? Your REITs go up. Labor costs go up? That's not offset. That takes chunks out of all parts of your portfolio. Restaurants themselves will be equally bothered by all three but they don't decide what part of what bothers them gets media prominence.