By Paul Vigna Close Paul Vigna Updated Aug. 21, 2020 6:28 am ET Amber Biesecker has been out of work since March when her freelance editing projects dried up at the start of the coronavirus pandemic.
Ms. Biesecker’s frustrations are increasingly common because fewer Americans, buffeted by the economic fallout from coronavirus, have a stake in one thing that’s going up: the stock market. “What’s going on on Wall Street is so far removed from what’s going on on Main Street, it doesn’t matter,” Ms. Biesecker said.
Although the stock market has erased its losses suffered during the pandemic, the economy appears to be telling a different story. It contracted at the sharpest rate on record in the second quarter, and the unemployment rate remained above 10% in July, after reaching nearly 15% in April. Despite attempts by leaders of both parties to rein in expectations for those talks, stock investors appear to be counting on further stimulus. Many analysts and investors agree financial markets would likely face another reckoning if an extension isn’t reached.
SHARE YOUR THOUGHTS In the last six months, have you been more inclined or less inclined to buy stocks? Join the conversation below.
Hahaha. Like the little people were investing? You’re funny.
“The percentage of Americans who own stock, either directly or through retirement or mutual funds, is falling… Although the stock market has erased its losses suffered during the pandemic, the economy appears to be telling a different story.” paulvigna ht Gallup USDOL
People think they don’t have money for it. They should be in it
the stock market is also being propped up, and hence manipulated by the Trump administration to make it 'appear' strong & healthy, you must dig deeper for the reality
is the buy back and sell and buy back from the tax cuts the driving force?
Instead of a new phone every two years and always buying a new car - they could start investing.
It's almost like the stock market isn't an indication of how the country is doing as a whole .😑
And....? So what?
Greed
All we accomplished supporting the gov to close everything, demanding healthy people to stay home for months is: we made the super corporations stronger. It killed a lot of smaller business. Now media is already pushing another class warfare. Own it people, we let this happen.
There are plenty of jobs out there Go find them & stop winning
It’s the economy stupid
Hey’ WSJ thanks for the daily downer. That glass is always empty in your world.
“Seem”
It’s a great comfort for people who are invested and all the pension funds.
Lol acting like the rich are the only ones that hold stocks. Durr
This changes so often you have to keep it up-to-date.
No they haven't, its been the Federal Reserve pumping $Trillions into corporate bonds that has seen the stock market rise. This was done because Trump didn't want to go into an election with Bear market. Corruption & Greed.
Those who can identify the disconnection with the market and the pandemic can leverage on it and make profits. It's a clear process once you can see through it.
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