---
title: "Dow soars, but only about half of Americans will benefit"
description: "About half of all Americans own stocks, either directly or indirectly."
date: "2013-11-18"
authors:
  - name: "Drew DeSilver"
    job_title: "Senior Writer/Editor"
    link: "https://www.pewresearch.org/staff/drew-desilver/"
url: "https://www.pewresearch.org/short-reads/2013/11/18/dow-soars-but-only-about-half-of-americans-will-benefit/"
categories:
  - "Personal Finances"
---

# Dow soars, but only about half of Americans will benefit

The stock markets have been on a tear this year, epitomized today by both the Dow Jones industrial average and the S&P 500 index hitting round-number milestones. The [Dow crossed 16,000](http://finance.yahoo.com/news/us-stocks-dow-p-500-174943314.html) and is up about 22% this year; the S&P briefly popped above 1,800 and, though it's slipped back below that level, is still up about 26% for the year. But only about half of Americans -- especially those who tend to be [white, wealthy and more educated](https://www.pewresearch.org/short-reads/2013/05/31/stocks-and-the-recovery-majority-of-americans-not-invested-in-the-market/) -- will see any benefit from surging stocks.

[![gallup_stockownership](https://www.pewresearch.org/wp-content/uploads/sites/20/2013/11/gallup_stockownership.gif)](https://assets.pewresearch.org/wp-content/uploads/sites/12/2013/11/gallup_stockownership.gif)

![](https://assets.pewresearch.org/wp-content/uploads/sites/12/2013/05/FT_Money_Market.png)

Gallup's annual economy and finance survey, conducted in April, found [52% of Americans](http://www.gallup.com/poll/162353/stock-ownership-stays-record-low.aspx) saying they owned stock, either directly or through a mutual fund, retirement account or other investment vehicle. The ownership share dropped sharply after the 2007-08 financial crisis and has continued falling throughout the nation's wobbly recovery. (A [Pew Research Center survey](https://www.pewresearch.org/politics/2013/03/21/section-2-national-economy-personal-finances-3/) conducted in March found a somewhat lower ownership share -- only 45% of Americans in that survey said they had money in the market.)

Our survey found that stock ownership was sharply differentiated by age, race and socioeconomic status: More than half (55%) of whites, for instance, said they were invested in stocks, compared with 28% of blacks and 17% of Hispanics. 77% of college graduates reported being invested in stocks (versus less than half of non-graduates), and 80% of people with incomes of $75,000 or more, compared with 55% of people with incomes of $30,000 to $75,000 and just 15% of people with incomes below $30,000.