What does the Dow’s record highs mean for consumer confidence?
Dow Jones has been sitting above 17,000
LA CROSSE, Wis. (WKBT) — The stock market continues on a historic ride, but how much does it mirror consumer confidence?
The Dow Jones has been sitting above 17,000 points for about a week.
A local business professor says it reflects what’s being done in the business world.
The most recent federal jobs report showed more jobs than expected are being created, industries like auto and manufacturing are continuing to grow, and the unemployment rate is falling.
However, that still may not mean an immediate impact on our wallets. “That consumer can feel good about that, the products that they want are going to be available, the products that they want may not cost as much in the long run, and it may be that they’re better able to afford it because they’re becoming employed or their employment situation is getting better,” said Viterbo Asst. Professor Todd Ondell.
Ondell expects the stock market to continue to go up.