Tuesday, President Trump said 401(k) investors who “stayed with me” are doing great.
In his latest use of 401(k)s as a campaign message, President Trump said Americans who “stayed with me” when the coronavirus hit are “doing phenomenally well.”
The President said that Americans who sold stocks in March lost out on the market rebound.
“A lot of people with the 401(k)s are doing phenomenally, but a lot of people sold stock and now they are saying, ‘I missed it,’” President Trump said.
“I said to people, ‘Don’t sell, don’t sell, just don’t sell, because the foundation is so strong, don’t sell,’” he said. “But the people that really lost in terms of economic are the people that got out. The people that stayed in, they stayed with me, they’re doing great,” President Trump said.
President Trump Tweeted that Democratic nominee Joe Biden would cause “your 401k’s and Stocks” to “disintegrate and disappear” if elected.
Tuesday, the major US stock market indexes finished at: DJIA -205.49 to 26379.28, NAS Comp -134.18 to 10402.17, S&P 500 -20.97 to 3218.44
Volume: Trade on the NYSE came in light at 725-M/shares exchanged
HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bullish with a Very Bullish bias in here.
- NAS Comp +15.9% YTD
- S&P 500 -0.4% YTD
- DJIA -7.6% YTD
- Russell 2000 -11.9% YTD
Looking Ahead: Investors will receive the July FOMC policy statement, Pending Home Sales for June, the weekly MBA Mortgage Applications Index, and the Advance June reports for International Trade in Goods, Retail Inventories, and Wholesale Inventories Wednesday.
Have a healthy day, Keep the Faith!