stock market recording record highs dozens of times, leading to record-high retirement account balances, creating so-called 401(k) millionaires. if the strategists at jpmorgan are right, there are favorable prospects in the new year. quote, our view is that 2022 will be the year of a full global recovery and end of the global pandemic and a return to normal conditions we had prior to the covid-19 outbreak. predicting more stock market gains for the benchmark s&p 500. and for those receiving social security, expect 5.9% more in your checks thanks to the government s annual cost of living adjustment. inflation, of course, the wild card in the new year. higher prices eat into wage gains and strain household budgets, especially for low-income earners. in new york, i m christine romans. thank you. college football s national championship game is set.
normal conditions we had prior to the covid-19 outbreak. predicting more stock market gains for the benchmark s&p 500. and for those receiving social security, expect 5.9% more in your checks thanks to the government s annual cost of living judgment. inflation, of course, the wild card in the new year. higher prices eat into wage gains and strain household budgets, especially for low-income earners. in new york, i m christine romans. now, anyone who s braved hockey on the frozen lakes of canada, alaska, or minnesota, i d be one of them, knows the teeth-chattering feeling of bitterly cold weather. like at the national hockey league s annual winter classic, which believe me, earned its name. oh, i m loving that clothing. good going. temperatures plunged to minus 10 degrees fahrenheit or minus 23 degrees celsius. the coldest outdoor game in league history. you can see there, the players had to bundle up, as well, with
now to developments from wall street. let s look at the numbers right now. stocks are kind of mixed in this first hour of trading, up 22 points. the dow, s&p 500 down four. nasdaq down 27. cnbc s mandy drury is here with a market rundown. not major moves as you can see. but we ve enjoyed the best five-day run since 2011 for the benchmark s&p 500. you can expect a little profit taking to kick in today. also what we re seeing is oil is moving higher extending gains with the eia saying u.s. crude output is going to fall through mid 2016. we ve also seen crude and the market move in tandem in recent days. by the way, we got the forecast from the imf today, the international monetary fund. it is downgrading its forecast for global economic growth
the governments of malaysia, australia, china, send mixed messages on the status for the sent of flight 370, next. first, courtney reagan has a market wrap. a look at how stocks stand going into tomorrow. the dow, adding 134 points. nasdaq up more than 43. benchmark s&p 500 gaining more than 17 14 points, rather. that s it from cnbc, first in business worldwide. [ male announcer ] at his current pace, bob will retire when he s 153, which would be fine if bob were a vampire. but he s not. he s an architect with two kids and a mortgage. luckily, he found someone who gave him a fresh perspective on his portfolio. and with some planning and effort, hopefully bob can retire at a more appropriate age.
than mitt romney debate that the president has started and unleashed with his campaign ad. congressman michael turner, good of you to come on. thank you so much. thank you. speaking of the economy, at least your personal economy, your 401(k) retirement accounts are off to a pretty good start this year. cnbc s courtney regan is here with what s moving your money. how did we do? good morning, chris. fidelity investments, the country s largest 401(k) administrator, so they have 12 million account holders, according to them, 401(k) accounts gained nearly 8%. that s last quarter so we re a little past that at this point. for an average balance of $76,600. that increase is more, certainly, than what you would have earned if you d invested in government bonds, but it s actually less than what the benchmark s&p 500 grew over that same period of time. it grew about 12% from january 1st to march 30th. but the other good news is the average employee contribution has remained pretty steady