How US consumers feel ahead of Election Day

Published On Nov 4, 2024, 2:31 PM

Heading into Election Day, U.S. consumer sentiment shows a recovery in October, although inflation remains a top concern for many Americans. Despite some consumers feeling more optimistic, 41% still cite rising prices as their primary economic worry going into the election. The data shows a stark divide in concerns based on political affiliation, with more Republicans focusing on inflation compared to Democrats. The overall sentiment indicates a mix of pessimism and optimism about the economy, impacted by recent stock market gains and ongoing inflation issues.

Read full article

Stock Forecasts

XLPView XLP chart on TradingView

Positive

Given the emphasis on inflation and its impact on consumer sentiment, stocks related to the consumer goods sector might face pressure if inflation remains a primary concern. Conversely, companies perceived as resilient during inflationary periods could see positive movement if consumers feel slightly more optimistic. Hence, sectors such as consumer staples may benefit.

Related News

Weak Jobs Report Provides Fodder For Harris and Trump Ahead of Election

Nov 1, 2024, 10:17 AM

Republicans and Democrats used the latest jobs numbers to bolster their arguments about who would be better at managing the economy.

XLI
XLP

New PCE reading not ideal for Fed but won't upend rate cut expectations

Oct 31, 2024, 11:29 AM

The Fed may not have received the inflation data it wanted Thursday, but some economists said the central bank is still on track for a 25 basis point rate cut at its policy meeting next week.

XLP
QQQ

National Insurance: Firms to pay more than half of Budget tax rises

Oct 30, 2024, 10:44 AM

The chancellor says businesses will "contribute more" as she raises employer National Insurance to 15%.

XLP
SBUX
XLY