Affordability is the central issue in the midterm elections, but economists say households feel its pressures unevenly. Older Americans are better insulated, as most own homes, are less exposed to mortgage and auto loan rates, rarely need childcare, and receive Social Security benefits protected by a 3.6% cost-of-living increase for 2027. Moody's analysis shows baby boomers and older generations saw about a 31.5% cumulative rise in consumer prices from January 2019 through August 2026, compared with 33.3% for millennials and 32.7% for Gen Z. A Reuters/Ipsos poll found 78% of Americans say the White House shares blame for higher costs, and the Cook Political Report projects Republicans are on track to lose their House majority. The White House says President Trump has delivered “tangible wins,” including a large tax-cut package.
Summary written by Upside AI from the original article. Read the source for full details.
Related news
- Why older Americans' wealth may be helping keep consumer spending strong
Consumer spending in the U.S. has held up despite pressure from housing costs, debt and everyday expenses. Economist Ed Yardeni argues that age, not just income, better explains this resilience, calling it a 'G-shaped economy' shaped by the generational divide. A Principal Financial Group survey of 1,000 respondents found 53% of baby boomers felt able to manage their debt, versus 39% of Gen Z. Fed data show median net worth of families headed by someone 75 or older rose 37% after inflation between 2022 and 2025, while families under 35 saw a 23% decline. A JPMorgan Chase Institute report found 8.2% of individuals moved money from investments to checking accounts in the three months ending April 2026, up from 4% in 2019.
- US midterm elections : Trump wars , rising costs and voter backlash threaten Republican control of US Congress
The November 3, 2026 midterm elections will decide whether Republicans keep control of Congress, with all 435 House seats, 35 Senate seats and 36 governorships up for grabs. Republicans hold a 53–47 Senate advantage, and Democrats need a net gain of four seats to take control. A Pew survey found only 30% of Americans approve of Trump's performance while 68% disapprove, and a Harris Poll found 61% believe the country is effectively in a recession. Competitive Senate races are emerging in Trump-won states including Alaska, Kansas, Iowa, Ohio and Texas, where Democrat James Talarico leads Republican Ken Paxton 50% to 47% in a University of Texas poll.
- Fuel prices dominate midterm elections , but spiking utility bills may be the difference maker
Record fuel prices tied to the Iran war and global refinery outages dominate the run-up to the November midterms, but soaring utility bills and the data center boom could also tip the balance of power in many states and in Congress. PowerLines’ Charles Hua said electricity bills are now a major source of frustration for consumers, unlike gasoline costs, which have traditionally mattered mainly at the pump. US electricity prices have risen roughly 40% on average over the past five years, and utilities have requested $23.1 billion in rate increases through the first three quarters of 2026, on track to match the nearly $31 billion record set in 2025. Investor-owned utilities have raised capital expenditure plans by more than 27% to at least $1.4 trillion through 2030, much of it for new generation partly to power AI data centers. On the fuel side, heating oil rose 74% year on year in September, while regular gasoline averaged $4.33 a gallon, up 42%.
- Madison No Kings march focuses on early voting in midterm elections
About 1,000 people gathered at 2 p.m. on a Saturday in James Madison Park in Madison, Wisconsin, for a No Kings protest against the Trump administration. The crowd grew to about 1,500 as marchers headed to City Hall, where speakers urged people to vote early in the 2026 midterm elections. Attendees voiced concerns about the cost of living, housing, abortion rights, Social Security and Obamacare. Melissa Markquart, a singer with the Raging Grannies, warned people who recently moved to Wisconsin not to trust emails saying they are already registered to vote, since the state has no automatic registration. Organizer Ajak Johnson said early voting in Wisconsin starts soon and hoped people would leave the rally with a plan to vote early.
- US midterm elections 2026 : America heartland hit by the fallout of Trump economic bomb
US consumer prices rose 3.7% in September from a year earlier, beating economists' median forecast in a Bloomberg survey and prompting traders to bet the Federal Reserve may need to raise rates again. Inflation is running hotter in rural areas (4%) than in cities (3.6%), driven by a 35% rise in motor vehicle fuels and a 44% jump in household fuels such as kerosene and propane, which take up larger shares of rural budgets. Tariffs and the Iran war have also pushed up car parts and auto repair costs, with repair services up 5.8%. The article argues this puts Republicans in a tough position ahead of the midterms, since 69% of rural voters backed Trump in 2024. A Pew survey found 35% of Republicans say his policies have hurt the US, up from 18% earlier this year, and the Cook Political Report moved Kansas's Senate seat from 'lean Republican' to 'toss-up'.
- How Iran messaging highlights cost of war ahead of US midterm elections
Iranian officials are using English-language messaging to target American audiences, stressing the cost of the war launched by the United States and Israel ahead of the midterm elections. They have published articles in state-affiliated outlets on the war's impact on oil prices and the US economy, while parliament speaker Mohammad Bagher Ghalibaf has highlighted inflation rising to 3.7 percent. US diesel reached a record $6.33 per gallon and gasoline is $4.33, up from under $3 before the war began on February 28, after Iran disrupted shipping through the Strait of Hormuz. The IRGC accused Trump of lying about the war's costs. Trump has suggested he would either strike a deal with Iran or return to full-scale war after the November 3 elections.
Related markets
Latest news
- Winning over Vingroup and Sun Group with concrete and special materials: Vietnamese company's profit up 136%, chairman speaks out
Song Da Cao Cuong (SCL) reported Q3/2026 profit of VND 38 billion, up 136%, on net revenue of over VND 263 billion (up nearly 98%), while gross profit margin rose from about 36% to 41%. For the first nine months, revenue reached nearly VND 666 billion (up 81%) and after-tax profit nearly VND 94 billion, already exceeding more than 110% of its full-year profit target. Chairman Kieu Van Mat attributed the results to technology upgrades, production line optimization and capacity expansion, with several new plants expected to start operations by November 2026. The company said it spent more than two years testing its products before Vingroup accepted them; Vingroup's share of its business has fallen to about 25% as customers expanded to around 10 major groups and exports began to Laos, Cambodia and the Philippines. Over the past two years, the company has invested about VND 1,000 billion in factories and technology.
- Coteccons Chairman Bolat Duisenov reveals new direction: expanding home construction for individual customers
At the annual general meeting on October 20, Coteccons (HoSE: CTD) set fiscal 2027 targets of VND 42,000 billion in revenue and VND 1,050 billion in after-tax profit, and said it is considering expanding into residential construction for individual customers (B2C). In fiscal 2026, net revenue reached VND 34,340 billion (up 38%, 115% of plan) and after-tax profit VND 788 billion (up 73%); new contract wins totaled VND 60,307 billion and backlog was about VND 70,000 billion. In the first quarter of the new fiscal year, the company booked revenue of VND 11,270 billion and profit of VND 306 billion, but new contract value of VND 14,519 billion was lower than a year earlier; the company said it is tightening criteria for selecting clients and projects. Coteccons is also working with Microsoft, is expected to become a strategic partner of Workday, and targets raising its ROE from 10% to 15-18% by 2030.
- UPS Yields 6.7% After Firing Amazon. Here's Whether the Dividend Survives 2027.
UPS shares yield 6.7% as of October 16. The company has moved away from high-volume, low-margin Amazon deliveries and froze its dividend earlier this year, ending a 16-year streak of increases. The article says the payout will likely remain frozen through 2026 and 2027, citing competition from 10- and 30-year Treasury yields above 5% and other industrial dividend payers, but calls the dividend's safety questionable: UPS generated $5.47 billion in free cash flow in 2025, with $5.4 billion going to dividends, and free cash flow is projected to fall to $5.05 billion in 2026 and $5.01 billion in 2027, with the dividend absorbing about 98% of 2026 free cash flow. Rising competition and high fuel prices add pressure, and the article suggests investors may find more safety in the industrial sector.
- Asian shares mostly decline after AI stocks lead a rebound on Wall Street
Asian shares mostly fell in cautious trading on Tuesday after AI-related stocks rebounded on Wall Street, while other sectors stayed shaky and oil prices stayed high. Japan's Nikkei 225 slipped 0.6% to 64,512.35 in early trading, South Korea's Kospi dropped 2.8%, and Australia's S&P/ASX 200 lost 0.8%. On Wall Street, the S&P 500 rose 0.4% and the Nasdaq gained 1.1%, helped by Nvidia's 1.4% gain, while most stocks outside AI and tech fell and the Dow slipped 0.1%. The 10-year Treasury yield climbed to 5.14%, and U.S. crude rose to $103.50 a barrel and Brent to $109.47, as uncertainty about when the energy industry will return to normal after the war with Iran means oil is unlikely to ease soon.
- Asian shares mostly decline after AI stocks lead a rebound on Wall Street
Asian shares mostly fell in cautious trading Tuesday after AI-related stocks rebounded on Wall Street, while other sectors stayed shaky and oil prices remained high. Japan's Nikkei 225 slipped 0.6% to 64,512.35, Australia's S&P/ASX 200 lost 0.8% to 8,772.10, and South Korea's Kospi dropped 2.8% to 5,605.31. On Wall Street, the S&P 500 rose 0.4% and the Nasdaq rallied 1.1%, helped by Nvidia, while the Dow fell 0.1%. The 10-year Treasury yield climbed to 5.14%, and U.S. crude rose 0.15% to $103.50 a barrel as uncertainty over the war with Iran kept oil prices elevated.
- What Could X-Energy (XE) Gain From Its 960MW Indiana Nuclear Project?
X-Energy (NasdaqGS:XE), American Electric Power and Amazon agreed to assess a 960 MW advanced nuclear project in Indiana using Xe-100 reactors, on a former coal plant site. Under the joint development agreement, Amazon would provide development funding and commit to a long-term power purchase. The article says the deal offers commercial validation for X-Energy's reactor platform rather than immediate financial relief, as the company, with a $4.3b market cap, reported $150.28 million in revenue, a $448.87 million loss, and a 20.2x price-to-sales ratio. The next key milestone is whether the study reaches a final investment decision for the Sullivan County site.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.