"Record Wealth Surges as Stock Market Soars for U.S. Households"

The U.S. stock market's surge has driven U.S. household wealth to a record high of over $154 trillion in Q2, aided by a rebound in property values, according to Federal Reserve data. Household net worth rose 3.7% from the previous quarter, fully recovering from losses incurred during the bear market and weaker real estate values. The S&P 500's strong performance and rising property values contributed to the overall wealth gain. However, household cash reserves continued to decline for the fifth consecutive quarter, while debt levels for households, businesses, and governments continued to rise.