Is Wall Street success an illusion?

There's a big disconnect between Wall Street and Main Street. August was the best month for the markets since the Reagan Administration, but tens of millions are out of work because of the pandemic and mom and pop shops are hurting.

America's Money Answers Man Jordan Goodman says stay at home companies like Amazon, Zoom and Netflix are going like gangbusters.

"All these companies are benefiting by the whole trend so, yes, I think there's a huge amount of momentum that's continue on the stock market."

But Goodman says Main Street has been unable to fully reopen.

"Something like 26-million people are collecting unemployment benefits now, it's come back a little bit, but every time places reopen the Covid comes back and they have to close down again."

Goodman says even though we got good news about manufacturing, Main Street is still not seeing the benefits.

"It's hard to manufacture when there's not much demand; there are certain areas of the economy where there's tremendous demand. Housing, for example, is absolutely booming because people are moving out of the cities and going to the suburbs and rural areas; car sales are also booming."

Goodman says there's a big disconnect between the markets and the general economy, but he expects the Bull Market to continue, with stay at home stocks like Amazon continuing to benefit from the pandemic.

Goodman says the markets are looking forward so there will be good news eventually, but probably not until there's a vaccine.

Sponsored Content

Sponsored Content