U.S. Household Wealth Hits Record High

U.S. household wealth has reached an unprecedented high, crossing the $176.3 trillion mark in the second quarter, as revealed by the latest Federal Reserve data. This growth has been largely attributed to a rebounding stock market and a rise in property valuations.

During the April-to-June stretch, household net worth saw an impressive increase exceeding $7 trillion. Central to this surge was a $5.5 trillion boost in the value of stock market assets. Stocks had stumbled early in the year amid concerns over President Trump's tariffs. However, the market rebounded when Trump moderated his tariff plans, prompting a 10.6% rise in the benchmark S&P 500 index in that period.

Real estate values also bolstered this financial ascent, contributing an additional $1.2 trillion, underscoring the robust economic indicators reflected in the Fed's report.

(With inputs from agencies.)