The trading floor of the New York Stock Exchange.
Breaking News - this morning, in the first few minutes after the opening of trading, the Dow Jones Industrial Index hit an all time high, adding 61 points to climb to a record breaking 16,677.55! The world-renown NASDAQ, (the 2nd largest stock exchange, (after the NYSE), in the world with market capitalization of some US$4.5 trillion as well as the S&P 500 index also gained in early trading.
Similarly, across the globe, major exchanges such as the FTSE 100 in London, the DAX in Germany, the CAC40 in Paris, and the Hang Seng in Hong Kong recorded substantial increases in trading today!
For some time now, the international stock markets have by and large been "bullish" - usually an indicator of a revival of confidence in businesses around the world......but is this truly what it represents?
What does all this mean for the average person on the street? Is there still a real correlation between how major companies are performing and how people are fairing in their individual lives? Are there any clear indications that improvements for major corporations, (in terms of capital available to them), have translated to more and/or better job opportunities or indeed in terms of improvements in the average cost of living for all of us? Or is this all a façade?
Some interesting contra-indications of company performances in trading being representative of positive changes for the public generally is the fact that Oil remains at over US$100 per barrel (thus affecting almost every feature of modern life), and unemployment figures, though improving generally, remain extremely slow moving and too high. Indeed, many who have moved into the 'employed' category for statistical purposes are working in part-time jobs or jobs which do not reflect their skill-set, job aspirations nor cost of living needs!
What are your thoughts and experiences in these matters and where do you think we are headed?
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