Newsday: Stock market surge will benefit Long Island, experts say
Long Island stands to benefit from the stock market’s surge since Election Day, which culminated Wednesday when the Dow Jones industrial average closed at 20,068.51, the first time it has ever crossed the 20,000 mark.
The rise shows that Wall Street, an important local employer, is healthy, and it may encourage consumers to spend more.
Long Islanders said they were happy about the boost to their portfolios, though they noted stock gains can prove ephemeral. And some businesses said they expected growing consumer confidence would allow them to do more hiring.