Owning stocks has a large effect on people’s attitudes in politics, financial decisions and cultural identification.
Brokerage firms such as Robinhood Financial LLC, Zero-commission trading, the surge in ETFs and the growth in fractional share ownership have all had a hand in luring a new generation of investors to the stock market recently.
Now comes a new Harris poll that reveals others changes in the investing landscape that have far-reaching implications for both the government and companies.
The Big Q: What does that mean?
The Big A: If the results represent a long-term trend they could overturn some long-held assumptions.
For 1, the political appeal of running an anti-Wall Street platform may not be as effective among young and non-White voters as in the past. And 2 , claiming credit for good stock market performance might not matter as much to middle-aged White voters
Again, owning stocks has a large effect on people’s attitudes in politics, financial decisions and cultural identification.
Virtually all Americans have a stake in the stock market, with more than 50% exposed through mutual funds and retirement accounts.
Workers covered by public pensions are indirectly exposed because the ability of funds to make promised payments depends on the stock market’s performance.
Even people with no assets linked to stocks are helped when the market goes up because it tends to lead to more jobs and higher wages.
Millions of non-rich Americans, mostly young and non-White, are using this virus chaos to start trusting in stocks. That may well prove to be 1 of the bigger social changes to emerge from the uncertainty.
Tuesday, the major US stock market indexes finished at: DJIA +140.48 at 27278.18, NAS Comp +184.84 at 10963.66, S&P 500 +34.51 at 3315.57
Volume: Trade on the NYSE came in at 847-M/shares exchanged
HeffX-LTN’s overall technical analysis for the major US stock market indexes is still Bullish with a Very Bullish bias.
- NAS Comp +22.2% YTD
- S&P 500 +2.6% YTD
- DKIA -4.4% YTD
- Russell 2000 -10.3% YTD
Looking Ahead: Investors will receive the FHFA Housing Price Index for September and the weekly MBA Mortgage Applications Index Wednesday.
Have a healthy day, Keep the Faith!