Transcript for Market Soars Following Strong Earnings Reports
Now, we move to another big day on the stock market and a new retirement boost for AMERICAN 401(k)s. The dow with the highest closing since the rise in october 2007 before the recession hit. But this time, will that surge last? Abc's david muir is here. The biggest exhaling today after the markets could be coming from american baby boomers, so close to retirement, but watching their dreams vanish. Tonight with this giant market rebound, we wanted to know who was benefitting, the corporations or some of the retirees. Tonight the dow's highest close since the financial collapse. American giants like proktor and gamble singing again. Earnings toned, income more than doubling for them. It's not just the corporate titans reaping the rewards. It isn't just benefitting the ceos and the rich hedge fund managers, a lot of americans have something to gain. Reporter: Finally helping those american baby boomers. Every day 11,000 of them turning 65 and now they're recovering that lost ground in their 401(k). Why is the market on a tear? Economists telling us the election is over, the fiscal cliff crisis over, the debt ceiling battle pushed off. Congress hearing the frustration now that we've been hearing on the trading floor for months. People in the city and outside the industry are just frustrated. Reporter: Frustrate bauds that gridlock put a lock on the stock market too. But tonight, finally what appears to be a solid recovery. Worst case scenario that people were looking at in 2008, they can start to say, all right, we're not going to go there. Reporter: Couples like john and jeanette who you first met to "world news" two years ago. John had turned 60, jeanette about to. He was planning to work another five years because of the market. Their retirement dreams had grown simpler since that wedding day. Their only trips, to visit their granddaughter. HOW MUCH HAS YOUR 401(k) Recovered since we last visited? It's gone up about 30%. About 26 osh $27,000. Reporter: Their 401(k) growing again along with that granddaughter. Is it giving you a little more freedom? Yes, it's given us quite a bit more freedom. Great to see that. Finally for the baby boomers who had to replan in the middle of the recession. And apple is no longer number one in the world? Yeah, they held that title for the year. They lost it and pretty timely. Ashton kutcher will be playing the role of steve jobs and that by yopic. Many people wondering if apple has lost its touch. One economist was saying, apple was steve jobs. He somehow knew intuitively what the average american family would be using and needing, before anyone else. That's the big question tonight for apple. Thank you very much, david muir. Now as we head into the weekend,
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