NEW YORK (CNNMoney) -- Don't look now, but you and your fellow Americans are now worth trillions more, the Federal Reserve said Thursday.
The net worth of U.S. households rose to $56.8 trillion in the fourth quarter of 2010, up about $2.1 trillion from the previous quarter, according to the Fed's latest flow of funds report. That's up nearly 6% from the fourth quarter of 2009, when households were worth about $53.6 trillion.
The central bank defines household net worth as the difference between the value of assets and liabilities. In the fourth quarter, households had assets worth $70.7 trillion and liabilities totaling $13.9 trillion.
It was a good quarter for stocks, with the value of corporate equities held by American households rising $1 trillion to $8.5 trillion. The broad S&P 500 stock index gained over 10% in the last three months of 2010.
Overall, financial assets including stocks, bonds and real estate owned by households totaled $47.6 trillion in the quarter, up $2.3 trillion from the third quarter.
Household debt, meanwhile, continued to contract. In the fourth quarter, household debt declined 0.5%, marking over two years of falling debt levels. 
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 32,627.97 | -234.33 | -0.71% |
| Nasdaq | 13,215.24 | 99.07 | 0.76% |
| S&P 500 | 3,913.10 | -2.36 | -0.06% |
| Treasuries | 1.73 | 0.00 | 0.12% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Ford Motor Co | 8.29 | 0.05 | 0.61% |
| Advanced Micro Devic... | 54.59 | 0.70 | 1.30% |
| Cisco Systems Inc | 47.49 | -2.44 | -4.89% |
| General Electric Co | 13.00 | -0.16 | -1.22% |
| Kraft Heinz Co | 27.84 | -2.20 | -7.32% |
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