Bloomberg Money Minute: Home Sales Drop, Stocks Rise on Greenland Deal, Wealth Inequality

Pending Home Sales Decline

• 📉 Pending home sales experienced a significant setback in December, dropping by over 9% from the previous month.
• ⚠️ This marks the largest single-month decrease since the start of the pandemic.
• 🏠 Sales declined across all regions of the U.S.

Stock Market Gains

• 📈 Following a volatile trading session, stocks ended sharply higher.
• 🤝 The Dow Jones Industrial Average rose nearly 1.25% after President Trump announced a framework deal between the U.S. and NATO concerning critical minerals in Greenland.
• 📊 The Dow closed up 589 points, the Nasdaq gained 71 points, and the S&P 500 increased by 79 points.

Wealth Distribution in 2025

• 💰 In 2025, the top 1% of U.S. households controlled nearly one-third of the nation's wealth, amounting to $55 trillion, according to the Federal Reserve.
• 📈 The primary driver for these substantial gains was the stock market, while home values, which saw rapid increases during the pandemic, lagged behind.