U.S. Federal Reserve Says U.S. Household Net Worth Rose To Record $163.8T In Q2 2024; Stock Market Values Rose By $0.7T In Q2; Real Estate Values Rose By $1.8T In Q2; Total Non-Financial Debt Rose At 4.7% Annualized Rate In Q2; Household Debt Rose At 3.2% Annualized Rate In Q2; Non-Financial Business Debt Rose At 3.8% Annualized Rate In Q2; Federal Government Debt Rose At 6.3% Annualized Rate In Q2; State And Local Government Debt Rose At 6.0% Annualized Rate In Q2
Portfolio Pulse from Benzinga Newsdesk
The U.S. Federal Reserve reported a record U.S. household net worth of $163.8 trillion in Q2 2024, with stock market values increasing by $0.7 trillion and real estate values by $1.8 trillion. Total non-financial debt rose at a 4.7% annualized rate, with household, non-financial business, federal, and state/local government debts also increasing.
September 12, 2024 | 4:09 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) may see a positive impact as U.S. stock market values rose by $0.7 trillion in Q2 2024, contributing to a record household net worth.
The increase in stock market values by $0.7 trillion suggests a positive environment for equities, which could lead to a short-term rise in SPY, an ETF tracking the S&P 500. This is further supported by the overall rise in household net worth.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80