CINCINNATI (WKRC) — As major stock indexes continue to reach record highs, the market is looking ahead rather than reflecting current economic conditions.
Financial adviser Rob De Lessio from Strategic Wealth Designers explained why Wall Street’s optimism doesn’t always match what many families are experiencing on Main Street.
Rob De Lessio from Strategic Wealth Designers offers his financial insight every Tuesday at 5 p.m. on Local 12 News. (WKRC/CBS Newspath/CNN Newsource)
“The stock market is not necessarily painting a picture for today,” De Lessio said. “It’s painting a picture on what people are seeing in the future.”
De Lessio said easing oil prices, positive corporate earnings reports and continued investment in artificial intelligence have helped fuel the market’s gains. At the same time, he acknowledged many households continue to face higher grocery bills, childcare costs and borrowing expenses.
He also noted that while roughly 60% of Americans are invested in the stock market, many others are not benefiting from the rally or keeping pace with inflation.
For those who have not started investing, De Lessio encouraged taking a long-term approach rather than trying to time the market.
“The best time to invest is now,” he said. “I don’t care if the stock market’s high. I don’t care if the stock market’s low. Invest.”
De Lessio cautioned that much of the current rally has been driven by technology and artificial intelligence companies, rather than broad gains across the entire market, making diversification and long-term planning important.
