This holiday season, many Americans are hoping for a unique gift: stocks. Instead of the usual gifts, a new survey from Yahoo Finance and Ipsos reveals that 70% of people would be happy to receive investments as a Christmas gift.
Why are stocks on the wish list? Well, 61% of people want to save for the future, 54% see investments as a way to build wealth and 23% hope it will help fight inflation.
There are also other interesting finds. About 15% of people think that investments can help them pay off debt, and 12% believe that a rising stock market will make them better off financially.
Who is most excited to receive stock as a gift? It turns out that of the highest-income households, those earning more than $100,000 a year, 74% say they would like an investment gift. On the other hand, 58% of those who earn less than $50,000 a year are interested in receiving an investment gift.
This interest in stocks comes at a time when the stock market has been doing well. The Dow Jones, Nasdaq and S&P 500 have posted gains for four weeks in a row. Despite economic concerns, the small-cap Russell 2000 is at its highest point since late September.
The Nasdaq Composite has been a star this year, rising a whopping 36%. Some big-name companies like Microsoft, Amazon, and Nvidia have seen significant increases in their stock values.
However, while it seems like everyone is making money in the stock market, experts say the future might not be easy. Some are concerned that the market could take a break or move with more ups and downs in the near future.
So while receiving stocks as a gift this year may seem exciting, no one knows for sure how they will perform in 2024. Experts warn that things might not be as simple as they seem, especially with potential challenges like higher interest rates and a presidential election on the horizon.
Also read: Thanksgiving Week Boosts Stock Market: Microsoft Record, Governance Changes Fuel Momentum