Savings Up But Not Enough
June 26th, 2009
The savings rate is expected to hit nearly 10 percent soon. It had been around 5.5 percent in April and has steadily risen since then.
Why aren't people spending more? With Americans clearly saving more money now than in months past, most are still extremely timid about spending and investing. Experts are unsure how or what can change that.
The Dow bounced back later in the week after a very rocky start. Thursday saw the Dow Jones rebound and gain over 2 percent of its value.
What's in store for the future? Well, with the end of the quarter coming on Tuesday, many experts believe we will see another week ending in positive territory for the major markets as portfolio managers are eager to burnish their numbers for the quarter.
Oil still sits at just under $70 a barrel. The Dow has remained stagnant since its nearly 3-month rally indicating that the experts on Wall Street feel the economic recovery isn't quite here yet.
