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YOUR MONEY with Mark: How the American economy's staying alive

Investment Advisor Mark Grywacheski gave us his thoughts Monday, August 24th.

The S&P 500 set a new all-time high Tuesday, August 18th.

Investment Advisor Mark Grywacheski says the S&P's fully regained all the losses it incurred from the COVID-19 pandemic. 

"The S&P 500′s milestone caps a furious 51.5% rally that began in late March," according to a report from the Associated Press.

Why's the stock market done so well despite the economy doing poorly? Grywcaheski got into it Monday, August 24th. He says retail sales were good in June, but they reached a record high in July. He says Wall Street traders realize this will be a very uneven recovery with some sectors lagging behind.

"If consumer spending remains strong enough, it can carry the load of this economic recovery," he said Monday morning.

Our economy stayed strong in 2019 because of consumer spending, despite a weakened global economy and world trade disputes. Your Money with Mark airs between 5 and 5:30 a.m. during Good Morning Quad Cities.