President Barack Obama speaks at a press conference at the G-20 summit in Cannes, France, on Nov. 4, 2011. (AP Photo/Michel Spingler)

(CNSNews.com) - At a press conference at the close of the G-20 summit in Cannes, France on Friday, President Barack Obama boasted about the increase in the value of the stock market during his term.

From April 29, when the Dow Jones Industrial Average (DJIA) hit an Obama-administration peak of 12,810.54, through Friday when Obama gave his press conference in the south of France, the market had dropped 827.30.

In his statement in Cannes about the stock market, Obama was responding to David Muir of ABC News, who asked a question about how the market had been responding to news about the bailout of Greece.

“I’m curious what you would say to Americans back home who’ve watched their 401(k)s recover largely when the bailout seemed a certainty, and then this week with the brand new political tumult in Greece, watched themselves lose essentially what they had gained back,” said Muir. “You mentioned you’re confident in the bailout plan. Are you confident this will actually happen, and if so, that it will work?”

“Well, first of all,” Obama responded, “if you’re talking about the movements of the U.S. stock market, the stock market was down when I first took office and the first few months I was in office about 3,000 points lower than it is now. So nothing has happened in the last two weeks that would suggest that somehow people’s 401(k)s have been affected the way you describe.”

In fact, as measured by the Dow Jones Industrial Average, the stock market has gone up more than 4,000 points since Obama took office. However, at the time of Obama’s inauguration the market was descending toward a 12-year low and, as of today, has not climbed back to anywhere near the peak it attained the year before Obama was elected.

On Jan. 20, 2009, the day Obama was inaugurated, the DJIA closed at 7949.09. On Nov. 4, 2011, the day Obama held his press conference in Cannes, the DJIA closed at 11,983.24. That is an increase of 4034.15 during Obama’s term.

Five years ago, on Oct. 16, 2006, the DJIA closed at 11,980.60--or roughly the same level it did on Friday.

On March 9, 2009, seven weeks after Obama’s inauguration, the DJIA hit a bottom of 6547.05. That was the lowest level the DJIA had hit since April 1997—and was down 7617.48 from the high of 14,164.53 the DJIA hit on Oct. 9, 2007.

The market has now dropped 827.30 since April 29, 2011, when the DJIA hit 12,810.54, its peak thus far in the Obama presidency.