A surging stock market has propelled U.S. household wealth to a record high of over $154 trillion in the second quarter, according to data released by the Federal Reserve. This increase was driven by a rebound in property values and strong gains in the equity market. In addition to the stock market gains, the rebound in property values also contributed to the increase in household wealth. As a result, household wealth at the end of June surpassed the previous record high of $152.49 trillion set in the first quarter of 2022 by about $1.8 trillion, representing a 1.2% increase. The strong performance of the stock market and the rebound in property values have helped households regain their wealth and further solidify their financial positions.

Source: The Star September 08, 2023 17:50 UTC