What will happen if the consumption class limits consumption and in turn starts buying stocks instead?

Let's understand it with an example. In a nation 1 billion only 150 million could afford luxury like Cars, Ac, gadgets etc for discretionary spending from disposable income. The rest of the people at the populace do not have significant disposable income. Now, the majority of the people with disposable income now decide to invest the majority of their money in the stock market and avoid or limit buying stuff from the market ( buying home, cars etc). As a result the Stock market of this nation is soaring at an all time high and people think that there is a bubble as the sales of products and services by these companies are not justifying the valuation. What do you think can happen in such situations at micro and macro economic level?

Macroeconomic Impact:

• Stock Market Boom: With a significant portion of the population investing, the stock market could experience a surge, potentially creating a bubble. This could attract more investors, further inflating prices.
• Slower Economic Growth: Reduced consumption by the majority could lead to lower sales for companies, hindering economic growth. Businesses might respond by cutting production or costs. Microeconomic Impact:
• Company Performance: Companies that rely on the now-reduced consumption might see lower profits, impacting their stock price eventually, potentially bursting the bubble.
• Investment Strategies: Investors who entered during the bubble might face losses if it bursts. Diversification and long-term investment strategies can help mitigate risk.