The University of Michigan's final October consumer sentiment index came in at 48.0, the second-lowest reading in the survey's 70-year history, with only May 2026's 44.8 lower. The figure was revised up from an initial 46.3, is almost level with September's 48.1, and marks a five-month low. Director Joanne Hsu said sentiment is 10% below a year ago and 15% below February, just before the Iran conflict. The current-conditions index fell to 46.7 from 50.9 and buying conditions for durables dropped 18% amid higher interest rates and affordability concerns, while expectations rose to 48.8. Year-ahead and long-run inflation expectations rose to 4.7% and 3.5%, their highest since May, while XRT gained 6.76% over the past month even as SPY slipped 0.52% on the day.
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inflationconsumer confidenceinterest ratesSPY
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Related tickers and likely impact
DXY
▼ Likely negativeRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/23/2026 | 101.74 |
| Change that session | +0.11% |
SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/23/2026 | 759.85 |
| Change that session | -0.54% |
XAU/USD
▲ Likely positiveRelevance: low
| Market | Gold |
|---|---|
| Close on 10/23/2026 | 3,995.78 |
| Change that session | -0.72% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Americans Are Gloomier Than at Almost Any Time on Record, Michigan Survey Shows
The University of Michigan's final October consumer sentiment index came in at 48.0, revised up from 46.3, almost level with September and a five-month low. The current-conditions index fell to 46.7, with buying conditions for durables such as cars and appliances down 18% amid higher interest rates and affordability concerns. Year-ahead and long-run inflation expectations rose to 4.7% and 3.5%, both the highest since May, while the Federal Reserve raised rates by 25 basis points in September to 3.75%–4.00% and meets again on October 28. Retail sales reached $745.0 billion in September, up 0.8% from August, suggesting shoppers are still spending despite weaker sentiment. The SPDR S&P Retail ETF (XRT) gained 6.76% over the past month, while SPY slipped 0.52% on the release day; because XRT weights its holdings roughly equally, smaller auto dealers and specialty stores carry as much weight as larger names if durables demand keeps weakening.
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US consumer sentiment edged down to 48.0 in October, near a record low, as price increases linked to the Middle East conflict weighed on households, according to a University of Michigan survey. Sentiment among independents fell sharply to 42.4 from 47.7 in September, just above May's record low of 40.6, while scores among Democrats and Republicans improved. Expectations for inflation over the next 12 months rose to 4.7%, and expectations for the next five years increased to 3.5%. Survey director Joanne Hsu warned that persistently elevated inflation expectations could complicate the Federal Reserve's efforts to bring inflation to its 2% target, and the Fed is due to meet next week with the policy rate widely expected to stay at 3.75%-4.00%.
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Consumer sentiment was essentially flat in October at 48.0, versus 48.1 in September and 53.6 a year earlier. The Current Conditions index fell to 46.7, driven mainly by an 18% plunge in buying conditions for durable goods, while the Expectations index rose to 48.8. Some 85% of consumers said it is a bad time to buy a house, with 62% blaming high interest rates, and 69% expect rates to rise in the year ahead, the highest since April 2023. The share saying high prices are dragging down their personal finances rose for a fourth straight month to 56%, with concerns particularly widespread among lower-wealth consumers, according to surveys director Joanne Hsu, who said purchasing power continues to dominate views of the economy.
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