Stock market

Consumer sentiment is near historic lows in Michigan, according to the University of Michigan's long-running survey, with economist Joanne Hsu saying readings now rank below the 1970s stagflation era, the 2008 financial crisis, and post-COVID inflation under President Biden. Voters across party lines report feeling worse off than during the first Trump administration, even as the stock market rises and wages grow, because pay has not kept pace with inflation. Grocery prices, gas, and mortgage rates have all climbed despite Trump's 2024 campaign pledge to quickly lower costs. Housing agents report slower sales as 30-year mortgage rates approach 7.5 percent, fueling frustration ahead of Election Day.