How important is the stock market?

I just returned from the Global Department Store Summit in New York and was surprised to hear several luxury retailers say that the gyrations of Wall street can still impact their sales.  I always thought wealthy people were above worrying about how their portfolios might impact their level of spending. But perhaps it is just an indicator of confidence.  As they say in New York "Markets down, bottoms up."  How do marketers exude confidence when the mood of the consumer fluctuates day-to-day.  Several articles I've read support this notion that the consumer is a bit gloomy right now and will be hard to predict.  Holding on to the core essence of your brand seems to be the only way to counteract the mood swings.  But as the Bette Davis character said in All About Eve: "Hold on to your hats. It's going to be a bumpy ride."