The S&P 500 just hit an all-time closing high, and the Dow has been hitting and breaching its record high in recent weeks.
But the stock market rally has had a “limited effect on the public’s economic outlook because they are not what affect people’s personal financial situation,” according to a PEW survey.
Of those surveyed, only 23 per cent say the stock market has a major impact on household finances. 33 per cent said it had “very little” effect, and 40 per cent said it had no effect at all.
Instead, 64 per cent said their household finances were impacted by gas prices, and 58 per cent said they were impacted by the prices of food and other consumer goods.
Here’s the chart from PEW that shows the impact of inflation, real estate, and the stock market on their household finances.
Meanwhile, those invested in the stock market have benefited. 58 per cent says their investments have increased “a little” while 13 per cent said they’ve increased “a lot”. 22 per cent said they lost money.
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