The Christian Broadcasting Network

Browse Videos

Share Email

Dow 30,000: Stock Market Record Signals Renewed Confidence Despite Hard Times

Dow 30,000: Stock Market Record Signals Renewed Confidence Despite Hard Times Read Transcript


- Across the country, the economyis hitting Americans hard,

with 21 million out of work,

and 6.6% of mortgages in delinquency.

The congressional bailout thathas been protecting mortgages

and extending unemploymentruns out at the end of December

and that puts pressure on Congress

to pass another relief package

but investors are looking down the road

and signaling their optimism.

On Tuesday the Dow rosemore than 400 points

to trade over 30,000for the first time ever.

- What completely isa surprise is the fact

that we've had this massive pandemic

that's thrown tens ofmillions of Americans

out of work that saw a34% decline in the market

from mid February to late March

and despite all that themarket has rebounded.

- [Heather] But perhaps evenbetter the S and P 500 index

rose more than 1.5% Tuesdayfor its own record high.

It has a far greater impacton 401k accounts than the Dow.

One factor credited with the rise?

News that several vaccines in development

are showing strong results

and could startdistribution in mid December

- Even though the headlinesare very bad right now

with regard to the coronavirus

and there's concern about what that means

for the economy overthe next several months

investors are looking beyond that.

They're looking to thelikelihood of vaccines

becoming widely available in 2021 and how

that might potentially bringabout a return to normalcy.

- [Heather] President Trump,

who has shunned the media in recent weeks,

returned to the podium to celebrate

and credit the medical progress.

- We've never broken30,000 and that's just,

despite everything that'staken place with the pandemic.

I'm very thrilled with what'shappened on the vaccine front.

- [Heather] Many also believeinvestors are encouraged

to see the presidentialtransition process moving forward

and in particular, Joe Biden selecting

the former Fed Chair, Janet Yellen,

as Secretary of the Treasury.

(bell ringing)

The good news for WallStreet cannot trickle down

fast enough for the manyAmericans who find themselves

in long food lines like this distribution

sponsored by CBN's Operation Blessing,

The Goodness Project and Gateway Church

in Fort worth, Texas last weekend.

- Our community has beenstruggling during this time,

losing jobs, having people laid off.

- [Heather] These families are looking

to get back on theirfeet and with good news

from Wall Street and potentially Congress,

the outlook becomes a little brighter.

Heather Sells CBN News.

EMBED THIS VIDEO

Related Podcasts


CBN.com | Do You Know Jesus? | Privacy Notice | Prayer Requests | Support CBN | Contact Us | Feedback
© 2012 Christian Broadcasting Network