As US stock market hits new highs, 2 of 3 Americans are cutting back on spending, survey shows
Despite the U.S. stock market reaching new highs, consumer confidence has declined as inflation and high gas prices persist. A recent survey indicates that two-thirds of Americans are cutting back on spending due to rising costs. This economic disparity highlights a divide where higher-income households continue to benefit from stock gains while lower-income families struggle with increased expenses.
- ▪U.S. consumer confidence index slipped 0.7 points to 93.1 in May, marking the first decline after three months of gains.
- ▪Two-thirds of Americans reported cutting back on spending in response to rising prices.
- ▪Inflation reached 3.8% in April, the highest in three years, affecting purchasing power.
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| Original publisher | ABC News — US |
| Canonical URL | https://abcnews.com/US/wireStory/us-stock-market-hits-new-highs-2-3-133314224 |
| Publication time | Tue, 26 May 2026 11:51:16 -0400 |
| Retrieval time | 2026-05-26T16:02:49.915Z |
| Last seen | 2026-05-26T16:02:49.915Z |
| Headline source | Publisher (no WeSearch rewrite) |
| Excerpt source | publisher body |
| Excerpt method | First ~120 words (~800 chars) of extracted publisher body, fair-use limited. |
| Summary | WeSearch · cerebras-chat (WeSearch summarizer) |
| Summary source text | contentText |
| Citation coverage | Summary is a WeSearch-generated derivative; primary citation is the original publisher URL. |
| Cluster | AdT61KFuP83d |
| Cluster logic | Grouped by semantic title/content similarity across sources within a rolling window. Same-publisher template collisions are excluded from coverage comparison. |
| Ranking reason | Story pages are not engagement-ranked. Hub feeds use recency, with optional source-diversified chronological ordering (cap consecutive stories per source). No personalized ranking. |
| Publisher visit | Yes — open original |
| Substitutes article? | No — link-out required for full text |
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| Indexing | May the item be indexed (stored, ranked, made findable)? | Allowed |
| Snippet | May a short excerpt of the publisher's text be shown? | Allowed |
| AI summary | May WeSearch generate its own short summary of the article? | Limited |
| Retrieval / RAG | May the content be exposed for third-party retrieval-augmented generation? | Not asserted |
| Model training | May the content be used to train AI models? | Not asserted |
| Commercial reuse | May the content be reused commercially? | Not permitted |
Basis: Derived from the published RSS/Atom feed. Contact: [email protected]. Reviewed: 2026-07-24.
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ABC NewsLiveVideoShowsGood Morning AmericaShopGMAInterest Successfully AddedWe'll notify you here with news aboutTurn on desktop notifications for breaking stories about interest? OffOnStream onAs US stock market hits new highs, 2 of 3 Americans are cutting back on spending, survey showsU.S. consumer confidence declined slightly this month as gas prices stayed high and inflation remained elevated, a sharp contrast to soaring stock prices that have neared record levelsByCHRISTOPHER RUGABER AP economics writerMay 26, 2026, 10:13 AM1:23The per-gallon prices for the various grades of gasoline available at a gas station are displayed on a sign above the pumps, Sunday, May 24, 2026, in southeast Denver. (AP Photo/David Zalubowski)The Associated PressWASHINGTON -- U.S.
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