SPRINGFIELD, Mass. (WWLP) – It was a good day for the stock market with the Dow and S&P 500 both closing at record highs.
Almost everything on the market was up Thursday, including retail which was up 9-percent, and financial experts say that almost never happens.
Mark Teed, a Raymond James financial expert, told 22News that the market indicates that economically the situation is better than expected while the economy bounces back from the effects of COVID-19.
And not only is the stock market up, but many people will find their 401K is too.
“People should look at their 401k’s and say ‘okay this is as good as it’s going to get, should I make some changes to reduce risk,'” Teed advised.
Teed added that people who are close to retirement should be paying close attention to their 401k’s during this time.