I’ve noticed lately my 401k is FINALLY going back up. It’s about time. For about two years it seems I’ve been dumping my money down a pit, and a pit that doesn’t return much at that!
Lately I’ve been checking my 401k balance online and noticed that it is substantially increasing every time I log in, which is about once every two weeks, after I get paid and more money is deposited into the account since I am paid biweekly at my job.
The steady incline of the stock market has been credited to the decrease in oil and gas prices, and higher consumer optimism and spending due to a perceived relief on consumer wallets after energy costs finally went down.
Another helper on Wall Street was the fact that big time stock Wal-Mart announced that it plans to cut back on spending and strive more for profits, something its investors found to be welcome news since this means more money and dividends in their pockets if the strategy works.
Other companies helped the stock market to rebound, large companies such as toy companies, computer and technologies and gasoline companies helped pave the way to higher expectations and earnings on Wall Street.
Stock market and financial analysts are saying that they feel pretty good about the market stabilizing for a while now (what does a while mean, I don’t know, in this unstable economy that might just mean one week for all we know!) They say that the market doesn’t appear to be on a rebound too quickly, which can often end in a quick decline afterwards, so hopefully this is a sign of good things to come for the stock market, and all of our investment interests!