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Washington - Stock Market Lifts US Household Wealth To $98.7 Trillion

Published on: March 8, 2018 04:31 PM
By: AP
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A Nasdaq employee works at his computer at the Nasdaq MarketSite, in New York, Wednesday, Feb. 14, 2018. Stocks climbed Wednesday for the fourth straight day, and the S&P 500 has trimmed its loss to 6.1 percent from its record high, set on Jan. 26. (AP Photo/Richard Drew)A Nasdaq employee works at his computer at the Nasdaq MarketSite, in New York, Wednesday, Feb. 14, 2018. Stocks climbed Wednesday for the fourth straight day, and the S&P 500 has trimmed its loss to 6.1 percent from its record high, set on Jan. 26. (AP Photo/Richard Drew)

Washington - A soaring U.S. stock market and healthy home price gains lifted Americans’ net worth to $98.7 trillion in the final three months of last year, a gain that could lift household spending.

The Federal Reserve says the value of U.S. stock portfolios jumped $1.3 trillion in the October-December quarter compared with the previous three months. Home values, which make up the bulk of middle-class wealth, increased $500 billion.

The figures are at a record high, though they are not adjusted for inflation or population growth. They predate February’s sharp gyrations in the stock market, though stock market indexes are still up about 2 percent this year.

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The solid gain in wealth could make many Americans more confident and lead them to spend more, which typically fuels economic growth.



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