US Household Wealth Up $1.7-T, Another Record Under President Trump

US Household Wealth Up $1.7-T, Another Record Under President Trump

US Household Wealth Up $1.7-T, Another Record Under President Trump

$SPY

The wealth of US  households rose to $96.2-T in Q-2 of this year, as US stock prices hit record highs and home values continued to climb, a report by the Fed showed Thursday.

That compares to a downwardly revised $94.5-T tally for household net worth in the prior Quarter.

Household borrowing rose at a 3.7% annual rate in the April-June frame, the report also showed, up from a 3.4% growth rate in Q-1.

Consumer credit increased 4.6%, down from 5.2% the prior Quarter.

Growth in mortgage debt slowed slightly to a 2.8% annual rate from 3.4% in the prior Quarter.

The United States is currently in its 9th year of economic growth, the 3rd-longest stretch of expansion since World War II.

The unemployment rate stands at 4.4%, near the level many economists view as near full employment.

Stocks have more than regained their losses since the 2007-2009 financial crisis and recession.

The DJIA stands at record highs posting 7 fresh highs in the last 2 weeks currently trading neat 22,400.

The S&P 500 (SPY) is at all-time highs, with a YTD total return, including reinvested dividends, of around 13%

The NAS Comp is also at a record and has delivered about a 20% return since the beginning of the year.

In the Fed’s report, liquid assets held by non-financial firms were $2.26-T Vs a revised $2.19-T in the prior Quarter.

The FOMC held rates steady Wednesday, indicating confidence in the US economy by announcing it will begin in October to pare its $4.2-T bond portfolio amassed in the wake of the Great Recession of 2007-2009.

HeffX-LTN Analysis for SPY: Overall Short Intermediate Long
Bullish (0.46) Very Bullish (0.59) Bullish (0.46) Bullish (0.33)

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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