Investing Daily
Uncle Sam wants YOU…to trade stocks.
The U.S. House on Wednesday approved the Senate-passed version of President Biden’s $1.9 trillion coronavirus relief package. Biden intended to sign the bill Friday but surprisingly announced he would do so a day earlier, on Thursday. With the bill’s provisions for $1,400 stimulus checks, stocks are likely to benefit as many individual investors plow their government windfall into online trading.
Deutsche Bank (NYSE: DB) of 430 retail investors found that on average they plan to devote 37% of any stimulus checks directly into stocks, which the bank calculates could represent an inflow into the market of $170 billion. Half of survey respondents between 25 and 34 years old plan to spend 50% of their stimulus payments on stocks.