Kevin Gordon, Schwab's head of Macro Research & Investing, said the negative public perception of the economy, driven by fears about AI and the labor market, is an 'interesting divergence' from the economic data. He noted third-quarter GDP came in stronger than expected, with strong business investment and resilient consumer spending, even as consumer sentiment remains weak. He expects inflation to be 'pretty sticky' due to the Middle East conflict, rising oil prices, lingering tariff effects, and the coming impact of the spike in diesel prices. Although the stock market has had sharp drops, it has continued to see many record highs.
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Related tickers and likely impact
SPY
▲ Likely positiveSPDR S&P 500 ETF
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/29/2026 | 769.36 |
| Change that session | -0.38% |
DXY
▲ Likely positiveRelevance: medium
| Market | Currencies |
|---|---|
| Close on 10/28/2026 | 102.14 |
| Change that session | -0.22% |
QQQ
▲ Likely positiveInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/29/2026 | 715.34 |
| Change that session | -1.42% |
XAU/USD
▼ Likely negativeRelevance: low
| Market | Gold |
|---|---|
| Close on 10/28/2026 | 4,067.54 |
| Change that session | +0.18% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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