Here's who benefits from Dow 25,000
The Dow Jones Industrial Average (^DJI) crossed 25,000.
President Donald J. Trump often touts the stock market hitting new records as a major milestone for America.
Dow just crashes through 25,000. Congrats! Big cuts in unnecessary regulations continuing.
— Donald J. Trump (@realDonaldTrump) January 4, 2018
The reality is that not everyone in America is exposed to the stock market.
Just moments after the Dow hit 25,000, Deutsche Bank released its massive “US Income and Wealth Inequality” slide deck authored by Peter Hooper, Matthew Luzzetti, Brett Ryan, Justin Weidner, Torsten Slok, and Rajsekar Bhattacharyya.
Some of the slides highlight how U.S. stock are mostly owned by the wealthiest households.
The richest 10% hold the bulk of the stocks.
Just 25% of households own more than $25,000 worth of stocks
The richest 1% own 40% of stocks held by households.
Households making over $250,000 own 60.5% of stocks held by households.
Julia La Roche is a finance reporter at Yahoo Finance. Follow her on Twitter.
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Stock Market had another good day but, now that the Tax Cut Bill has passed, we have tremendous upward potential. Dow just short of 25,000, a number that few thought would be possible this soon into my administration. Also, unemployment went down to 4.1%. Only getting better!
— Donald J. Trump (@realDonaldTrump) January 4, 2018
