Americans Signal They’ll Spend Stimulus on Travel, Not GameStop
- Questions whether third federal checks will flow into stocks
- Google search trends for travel reach an all-time high
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In retrospect, it was a slam-dunk bet that when stuck-indoors Americans were sent $600 stimulus checks back in January, they’d plow a lot of it into the stock market.
But with the economy gradually opening, the calculus is less simple this time around as $410 billion starts to land in bank accounts around the country. Back then, pajama-clad gamblers and bored workers who didn’t need the cash turned into market newbies, driving a surge in brokerage accounts and fueling the stock rally.