As US stock market hits new highs, 2 of 3 Americans are cutting back on spending, survey shows - AP News
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- US stock market hits new record highs, according to the latest market data.
- Survey finds that two‑thirds of Americans are cutting back on spending despite the market rally.
- CNN reports that high gas prices and the cost of living have pushed US consumer sentiment to an all‑time low.
- The Atlantic labels the current period the “Permacession,” noting that inflation worries are now weighing on consumer confidence.
Why it matters: Retailers risk weaker sales as two‑thirds of shoppers cut spending, while investors may see short‑term market gains despite a consumer‑driven slowdown that could curb future earnings growth.
