The Dow strikes back

At the start of the pandemic Wall Street was riding high, with all-time records for the stock indexes. The Dow lost thousands of points, but now it's almost back to where it was in February.

America's Money Answers Man Jordan Goodman says there's a big disconnect between Wall Street and Main Street.

"It peaked with about 29,000 in late February, then it plunged to about 21,000 and now we're gradually climbing our way back to that; Nasdaq has hit all-time records highs over 11,000."

But the mom and pop stores are struggling to stay afloat. Goodman points out Congress' inability to make another stimulus deal means the six hundred a week in unemployment benefits has ended; the payroll protection money for small business has run out and the moratorium on evictions has expired. The good things during the pandemic haven't benefited all.

"Just think about Amazon; people are ordering more stuff from home and getting deliveries and it's profitable for them, that's why the big disconnect between Wall Street and Main Street is so disconcerting for many people."

Goodman says if democrats take the White House and the Senate in November we can expect huge tax increases and that will kill the markets, along with Main Street.

Sponsored Content

Sponsored Content