The stock market is banging out record highs this summer. So why isn't America celebrating?
The Dow Jones industrial average climbed above 17,000 for the first time Thursday, boosted by strong job gains. It's been a remarkable summer for stocks, but many people don't feel like they're seeing any benefit.
"Who cares what records Dow Jones hits, it has zero reflection of our horrible economy," wrote one Twitter user this week.
There's a reason that people feel so disconnected from Wall Street. Only a fraction of Americans directly own stocks, and they tend to be wealthier. Most people have drifted away from the market over the years, burned by the financial crisis, economic recession and a feeling that the investing deck is stacked against them.
The upshot? Although financial markets are soaring, relatively few people are reaping the gains.
