A surging stock market powered U.S. household wealth to a record high of more than $154 trillion in the second quarter, aided by a rebound in property values, Federal Reserve data out on Friday showed.
The data showed households have fully recouped the wealth losses generated by a crushing bear market for stocks and weaker real estate values through much of last year as the Fed kicked off an aggressive campaign to rein inflation through large, rapid-fire interest rate increases. Real estate was the other large driver, with property values rising for first time since the second quarter of 2022, contributing $2.5 trillion to the increase in net worth.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US futures fall with Fed's next move in focus: Stock market news todayStock futures pointed lower on Thursday amid building signs the US economy could be running hot.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stocks tumble with Fed's next move in focus, Apple losses deepen: Stock market news todayStocks were lower on Thursday amid building signs the US economy could be running hot.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Nasdaq sinks as Apple losses deepen, Fed's next move in focus: Stock market news todayStocks were lower on Thursday amid building signs the US economy could be running hot.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Nasdaq tumbles as Apple losses deepen, Fed's next move in focus: Stock market news todayStocks were lower on Thursday amid building signs the US economy could be running hot.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
US futures slip as Fed officials hint at rate respite: Stock market news todayStock futures inched down on Friday, with those on the Nasdaq 100 pointing lower even as Apple's slump took a breather.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stocks rise at the open as Fed officials hint at rate respite: Stock market news todayStocks stepped higher on Friday, with the Nasdaq gaining as Apple's shares recovered from a two-day slump.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »