Dow Surges Past 15,000 as Stock Ownership Remains Low


0  Updated at 4:58 am, May 8th, 2013 By: ABC Digital
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Hemera/Thinkstock(NEW YORK) — The stock market continued a remarkable four-year run on Tuesday, with the Dow Jones Industrial Average leaping over 15,000 for the first time. 

But the recovery has come at a time when millions of households pulled their savings from stocks.

A new Gallup poll finds that despite the record highs in the past month, stock ownership among U.S. adults is at its lowest level since 1998 — essentially unchanged from a year ago.

Just over half of Americans — 52 percent — now say they personally, or jointly with a spouse, own stock outright or as part of a mutual fund or self-directed retirement account.

This compares with 65 percent who owned stocks in 2007, before the major sell-off was triggered by the financial crisis and recession.

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