What's this, Reuters talking down big stock market gains because Trump is boasting about them?
While pensions and retirement funds were lifted by the rise in stock markets, the president has avoided talking about one key point about who really benefits when the market rallies: Most of the gains go to the small portion of Americans who are already rich.
That’s because 84% of stocks owned by U.S. households are held by the wealthiest 10% of Americans, according to an analysis of 2016 Federal Reserve data by Edward Wolff, an economics professor at New York University. So when the stock market has a blockbuster year - such as the nearly 30% rise in the S&P 500 benchmark index in 2019 - the payoff primarily goes to people who are already rich.
https://uk.reuters.com/article/uk-usa-trump-speech-stocks-analysis/trump-touts-stock-markets-record-run-but-who-benefits-idUKKBN1ZZ1AT