Dow Surges Past 15,000 as Stock Ownership Remains Low
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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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