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How the hot U.S. stock market will help your wallet

The new COVID-19 vaccine is also helping.
The new COVID-19 vaccine is also helping.

BLACKSBURG, Va. – Between Joe Biden’s presidential victory and a Pfizer coming out with news about a coronavirus vaccine, U.S. stocks have jumped.

Virginia Tech’s financial department head Vijay Singal said the new vaccine is a ‘game changer’ and this past election week is ‘one of the best weeks ever’ for the stock market.

He said while people’s 401Ks will increase, companies will start investing more in their own business and hire more employees.

This is a step in the right direction for the economy but we are not out of the hole yet, he says.

“I don’t think overall for the year that we will have positive growth but of course the first quarter of 2021 should be a really strong quarter," Singal said.

He said if you are going to invest you should do it throughout the month and leave it in the market; do not take out your funds prematurely.

About the Author:

Alexus joined 10 News in October 2020.