"US household net worth climbed to a record $176.29 trillion in the second quarter, according to data released Thursday by the Federal Reserve. That's an increase of $7.3 trillion from the first quarter of this year - and about $46 trillion more than in the final quarter of 2019, before the pandemic upended the economy. The surge was largely driven by Wall Street's continued rally."
"Much of the stock market's strength this year has stemmed from a series of tailwinds: easing geopolitical tensions, renewed optimism over trade deals, and rising bets on Federal Reserve rate cuts. The AI boom has also fueled investor enthusiasm, while retail traders - often leaning on margin debt - helped push meme stocks into overdrive earlier this summer. Together, those forces have propelled major indexes to repeated record highs despite lingering concerns about tariffs, inflation, and the strength of the labor market."
U.S. household net worth reached a record $176.29 trillion in Q2, up $7.3 trillion from Q1 and about $46 trillion above late-2019 levels. The rise was largely driven by a $5.5 trillion jump in corporate equities and mutual fund shares and a $1.2 trillion increase in real estate holdings. Combined corporate equity and mutual fund shares climbed from $29 trillion in 2019 to $48.5 trillion in 2024, while real estate assets rose from $29.8 trillion to $48.1 trillion. Stock-market tailwinds included easing geopolitical tensions, trade optimism, rate-cut bets, the AI boom, and retail trading activity. Debt levels, including household borrowing and government debt, continued to climb.
Read at Business Insider
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