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Why Wall Street Is Winning Right Now And Everyone Else Seems To Be Losing
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| Contributor | kal |
| Last Edited | kal Mar 08, 2013 06:08am |
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| Category | News |
| News Date | Friday, March 8, 2013 12:05:00 PM UTC0:0 |
| Description | If you’re wondering how on earth the stock market is hitting record levels while the rest of the economy barely plods along you’re not alone.
Just four years after hitting a painful low the Dow Jones Industrial Average rallied yesterday and hit a record 14253.77 points. The previous high was hit back in October 2007 when the country was mostly blind to the upcoming financial crisis.
Since then the economy has taken a beating with stubborn unemployment levels and unimpressive GDP figures. But while neither of those two economic indicators have shown drastic improvement the financial markets are moving like it’s 2007 while the rest of the country struggles to keep its head above water. What gives?
“The stock market is a forward-looking indicator. When you buy a stock you are buying a piece of corporate America and you get to participate in the future profits of that corporation,” explains James J. Angel, associate professor of finance at Georgetown University‘s McDonough School of Business.
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