The connection between Wall Street and Main Street has been rightfully questioned. Many believe that loose monetary policies, rather than real economic gains, have driven Wall Street’s phenomenal rise for most of the past two decades.
Even if that were true, the simple fact is that Wall Street is the world’s single most potent indicator of economic health and prosperity. When Wall Street has a good day, it sends a positive message across the globe.
I woke up this morning to news that financial markets are surging impressively. Frankly, the news was energizing and uplifting!
“U.S. stock futures traded sharply higher early Monday as Wall Street tried to build on the momentum from last week’s solid performance and shake off a continued rise in coronavirus cases,” writes Fred Imbert of CNBC. “Dow Jones Industrial Average futures rose 377 points, or 1.5%. The move implied an opening gain of more than 433 points. S&P 500 futures gained 1.2%. Nasdaq-100 futures gained 1.2%.”
That kind of good news reflects more than mere optimism. It represents a strong sign of confidence in the future. Despite the troubles and turmoil we’ve experienced, we’re looking ahead to better times.
“Dealmaking also boosted sentiment. Warren Buffett made his first major deal amid the market turmoil this year, with Berkshire Hathaway buying the natural gas transmission and storage assets from Dominion Energy for about $10 billion including debt. Dominion Energy added 5% in premarket trading. Uber shares gained after it said it was buying food-delivery app Postmates in an all-stock deal worth $2.65 billion,” writes Imbert.
It would be easy to get caught up in the continuing cycle of headlines focusing on the many problems we still face. I’m definitely not recommending that we ignore those problems. We need to acknowledge the challenges confronting us and take meaningful steps to resolve them.
But we cannot dwell on them obsessively. That would be a mistake, on many levels. It’s human nature to seek the light, even in the deepest darkness. From my perspective, optimism is a sign of resiliency and health. Have a great week!
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