According to the federal Consumer Expenditure Survey released October 29, 2026, households spent $27,790 on housing and $10,633 on food in 2025, together 46.9% of their budget, the largest combined share in about 15 years. Total spending rose 4.3% to $81,905, while pretax income grew faster at 6.4%, so necessities took a larger share of budgets. Private-industry wages rose 3.1% over the 12 months through September 2026, but inflation-adjusted wages fell 0.6%, and the 30-year mortgage rate averaged 7.24% on October 29. The article argues that staples could benefit as shoppers trade down: the State Street Consumer Staples Select Sector SPDR ETF (XLP) rose 1.41% to $89.42 on October 30 while the SPDR S&P 500 ETF Trust (SPY) fell 1.77%, and XLP is up 17.34% year to date. It flags valuation risk and protein costs that could squeeze food makers' margins, and says the $80.60 close from September 30 is the level to watch.
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Related tickers and likely impact
SPY
• NeutralSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/30/2026 | 755.71 |
| Change that session | -1.77% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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