(Reuters) -U.S. household wealth rose to a record $176.3 trillion in the second quarter on the back of a resurgent stock market and climbing property prices, data from the Federal Reserve showed on Thursday. Household net worth climbed by more than $7 trillion in the April-through-June period thanks mostly to a $5.5 trillion increase in […]
U.S.
US household net worth rebounds to record high in second quarter, Fed data shows
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(Reuters) -U.S. household wealth rose to a record $176.3 trillion in the second quarter on the back of a resurgent stock market and climbing property prices, data from the Federal Reserve showed on Thursday.
Household net worth climbed by more than $7 trillion in the April-through-June period thanks mostly to a $5.5 trillion increase in the value of stock market holdings, the Fed said. After slumping to start the year on worries that President Donald Trump’s tariffs would torpedo economic growth and stoke inflation, stocks roared back after Trump tempered his approach somewhat and delayed the onset of his proposed import taxes. The benchmark S&P 500 index gained 10.6% in the period.
A $1.2 trillion increase in real estate values also contributed to the rise in wealth, Fed data showed.
(Reporting by Dan Burns, Editing by Franklin Paul)