Improvements on Wall Street could be a sign of economic recovery - WAOW - Newsline 9, Wausau News, Weather, Sports

Improvements on Wall Street could be a sign of economic recovery

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WAUSAU (WAOW) -

Investors have had their eye on Wall Street and their portfolios as the numbers climb.

"It does show that there is momentum building in the stock market," said U.W. Stevens Point Chief Economist, Randy Cray.

Just days ago, the Dow Jones Industrial Average closed at its highest point in five years, which experts say could mark a milestone for our economy's recovery.

"People, your average customer so to speak, are starting to come back into the market," said Cray.

It's a big change from 2009, when the Dow's highest mark was just shy of 11,000 points. The number has increased each year since, showing steady growth to this year's 13,969 points.

As stocks rally around 14,000 points, economists say it can make a difference in your own investments, including your retirement.

"When 401ks become bigger, dollar values go up, then in turn, they spend more money on goods and services, which helps to propel the economy forward," said Cray.

With the possibility of growth in their 401k plans, financial advisors say the higher numbers have their clients watching closely.

"They're cautiously optimistic, they hope it continues but their really not getting aggressive in their holdings, they're kind of staying for a long term," said Certified Financial Planner, James Ison.

For those wondering if it could mean another bubble, waiting to pop, economists say it doesn't look it like it.

"Most forecasters are thinking that unless something bad happens in Washington, D.C., with regard to budgetary matters, that the economy should grow and improve," said Cray.

A trend investors and many people are hoping will lead to more economic growth.

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