Household wealth up by $3B

Market Overview

Year To Date Performances:

1. US household wealth went up by over $3 trillion in the first quarter, marking the biggest increase since the last quarter of 2021. This boost is mainly due to the increased value of equity holdings, which surged around $2.4 trillion during this time. Even though real estate values fell by about $617 billion, these gains were still significant. However, consumer credit growth slowed down, increasing at an annualized rate of only 4.3%, the smallest rise in two years.

2. Oil prices dipped following reports of potential talks between the US and Iran about a temporary nuclear agreement. This proposed deal would have Iran scale back its uranium enrichment in return for easing sanctions, allowing Iran to export more oil and gain access to its overseas income and frozen assets.

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4. Headlines

   1. AI startup Cohere raised $270 million in venture funding.

   2. Kim Kardashian is raising a new private equity fund.

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