Market growth good for this area
Published 12:00 am Monday, December 15, 2003
For the first time in 18 months, the Dow Jones Industrial Average has surpassed the 10,000 mark. On Thursday, trading closed at 10,008.
The gains in the stock market on Thursday were thanks in part to a better than expected retail sales report and a report that the interest rates would stay at the same lower levels for a longer period of time than most analysts on Wall Street expected. On Friday, that number grew to 10,042.
Does the fact that the Dow Jones is higher now than the last few years mean that the economy is headed in the right direction? Some would say yes and others disagree, and some say that the stock market looks more towards the future than the present.
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What does all this mean for the residents of West Alabama? Does the fact that the Dow Jones is over 10,000 have any kind of direct link to what happens in the cities of Demopolis, Linden, Greensboro, Livingston and the rest of West Alabama?
Bishop and Johnson both believe that these cities will benefit from the increase.
Johnson thinks that some residents will see an increase in funds. However, in a rural community, there are only about 25-30 percent of the residents who own stock.
When corporations make money, that means that the money filters down into their various businesses and they hire new employees, who spend their money in the community, Bishop said.