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Sentiment Drops to 2026 Low, Stocks Reach Post-2020 High

5/15/2026

47 9 Full Breakdown

Summary

Hammack Flags Decline

Consumer sentiment fell to a May 2026 low, according to the University of Michigan.
Cleveland Federal Reserve (Fed) President Beth Hammack said the drop reflects a decade of inflation compressed into half a decade.
Gregory Daco said Uber and Walt Disney reported strong spending last week, indicating a weakened sentiment-spending link.
Eric Winograd noted the S&P 500 hit a post-2020 high while sentiment fell 52%.

Summary

Trump Approval Plummets

U.S. President Donald Trump's net approval rating fell to a record-low of –18.9 in a May 8-11 Nate Silver poll of 1,254 adults.
Hispanic voters now disapprove of Trump at 70% and approve at 29%, a sharp swing from last year.
Fuel prices rose to $4.30 a gallon, a four-year high, while 85% of voters fear a rising cost of living.

History

Historical Context

In 2008 the burst of the U.S. housing bubble cut home prices about 20% and the S&P 500 fell roughly 45% by November, prompting the Fed, Treasury and banks such as Lehman Brothers to launch bailouts. President Beth Hammack cited the same low consumer confidence in May 2026, warning that rising gasoline prices could echo the 2008 recession.

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Hammack Flags Decline

Consumer sentiment fell to a May 2026 low, according to the University of Michigan.
Cleveland Federal Reserve (Fed) President Beth Hammack said the drop reflects a decade of inflation compressed into half a decade.
Gregory Daco said Uber and Walt Disney reported strong spending last week, indicating a weakened sentiment-spending link.
Eric Winograd noted the S&P 500 hit a post-2020 high while sentiment fell 52%.

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