Stock Market's Up; Does It Matter?
The stock market's record high may be a boost for Wall Street, but what does it mean for people on Main Street?
"I have to say I don't pay much attention to it, so I don't know how it really affects me at this time," said Watertown resident Tammy Cloe.
The Dow reached an all-time high on Tuesday and continued to go up Wednesday, closing at 14,296.
"If the market is doing well, people feel better and people will spend more," said Cyril Mouaikel of RBC Wealth Management, "and that helps everybody."
"When there's more spending in the economy, people buy more cars, more houses, etc.," he said.
Some people in the North Country couldn't agree more.
"Yes, it is very good for us," said Kimi Locke-Russell.
"I mean, we're trying to open a business ourselves right now, so we're hoping the stock market will help in that endeavor. "
"It's nice having it so high," Michael Reynolds said, "because if it's doing well, then the economy is doing well."
Although there's a lot of buzz surrounding the market's record high jump, financial advisers say it's important to remember one thing.
"At the end of the day, keep in mind, it's just a number," Mouaikel said.
"We get all excited about it," he said, "but all it is, it's a number."
Monday, May 20, 2013, Watertown, NY
On Wall Street