Anyone lucky or smart enough to be invested in stock markets has enjoyed serious gains over the past year.
The explanation often given is Quantitative Easing i.e. money that FED (and BOE) printed has inflated a stock market bubble. Doomsters are fond of this explanation of course.
Unlike consumers, large companies are not indebted. In fact they have been sitting on a huge pile of cash and have been buying back their own stock. This boosts earnings per share and hence stock prices.
Another factor is very low interest rates. If you can earn a dividend yield of ~5% by owning a FTSE 100 stock, why put money on deposit at 2% in a bank that is probably bust?
Finally, investors don't trust the political system and owning stock is seen as an inflation hedge.