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President Donald Trump has once again seized on surging US markets to declare a fresh economic victory, celebrating what he called booming jobs and retirement accounts as stocks pushed deeper into record territory.
“Stock Market hit an ALL-TIME HIGH TODAY,” Trump wrote in a May 6 post on Truth Social (1). “Jobs and 401(k)s are BOOMING!!!”
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The post came as the S&P 500 and Nasdaq Composite both notched fresh record closes on May 6. Stocks climbed amid reports that the U.S. and Iran were moving closer to a potential deal to de-escalate conflict, alongside a wave of solid corporate earnings.
Trump then followed up by sharing a screenshot of the Dow Jones Industrial Average, framing it as further proof of the market’s momentum (2). While the Dow did not itself reach a new record in this trading session, it still surged more than 600 points on Wednesday and remains just shy of its all-time high reached in February.
Trump’s “jobs” claim got fresh support Friday morning, when the Labor Department reported that employers added 115,000 jobs in April, topping expectations of 55,000 (3). The unemployment rate held steady at 4.3%, giving the president another data point as he argues the economy remains on solid footing.
As for Trump’s 401(k) boast, it fits a theme he’s been emphasizing all year. In his 2026 State of the Union address, the president said “your 401(k)s are way up,” adding that “Since I took office, the typical 401(k) balance is up by at least $30,000 (4).”
And the stock market’s rally has indeed flowed through to retirement accounts.
According to Fidelity, the average 401(k) balance rose 11% from Q4 2024 to Q4 2025, reaching $146,400 (5). The average individual retirement account balance also gained ground, rising 7% year over year to $137,095 in 2025.
Vanguard reported a similar trend, stating that “strong market performance in 2025 led directly to substantial increases in retirement accounts (6).” Its average 401(k) balance rose 13% in 2025 to an all-time high of $167,970.
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