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2024-12-14 04:37:32

American family wealth climbed to a record high thanks to the rise of the stock market. Driven by the rise of the stock market before the US presidential election, American family wealth reached a record high in the third quarter. According to a report released by the Federal Reserve on Thursday, household net assets increased by nearly 4.8 trillion US dollars, up 2.9% from the previous quarter, reaching 168.8 trillion US dollars. The value of American stock holdings increased by 3.8 trillion US dollars, while the value of real estate decreased by nearly 200 billion US dollars. In the third quarter, investors benefited from the stock market rally, as the market expected the Federal Reserve to cut interest rates and Donald Trump to return to the White House next year. Since Trump won the election on November 5, the S&P 500 index has climbed to a new high due to the market expectation that the president-elect will promulgate a pro-business policy.Intel executives: I hope to cut $1 billion from "other sales costs".The U.S. House of Representatives passed a bill to expand the judiciary.


Freddie Mac: mortgage interest rates dropped for three weeks to 6.60%.Morgan stanley capital international's MSCI Nordic Countries Index fell 0.4% to 381.97. Evolution AB Group, an online gambling operator, fell 3.4%, which was the worst among the constituent stocks.The African Center for Disease Control and Prevention said that Congo will vaccinate children against Japanese monkeypox from next week.


Market News: The Canadian government sells its shares in Air Canada.US government audit: The FAA must take "urgent action" to modernize the air traffic control system after the shutdown in 2023.The mortgage interest rate in the United States fell for the third consecutive week, and the demand for home purchases rose. The mortgage interest rate in the United States fell for the third consecutive week. Freddie Mac said in a statement that the average interest rate of 30-year fixed-rate mortgages was 6.6%, down from 6.69% last week. Redfin Corp' s data for the four weeks ending December 8 show that buyers have been pushing forward in recent weeks, and the purchase contract has increased by 4.1% year-on-year. However, the broker said that affordability still faces challenges, because interest rates are still at a high level and the median selling price has increased by 6% year-on-year. "Demand is adapting to the new normal after the election," said Chen Zhao, head of economic research at Redfin.

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