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Confidence Up, Gas Below $4, Jobs Tighten.

6/30/2026

34 4 Full Breakdown

Summary

Consumer Confidence Rises

Consumer confidence index rose to 91.2 in June, up from 90.6 in May.
Gasoline prices fell to $3.85 per gallon in mid-June, the first sub-$4 level since the Feb. 28 U.S.–Israel war with Iran began.
The share of consumers saying jobs were “hard to get” rose to 22.5 percent, the highest since Jan 2021, while analysts said spending stayed strong enough to support 2.5 percent annualized growth in the April-June quarter.

Summary

Generations' Confidence Divide

Consumer confidence split by age and politics, with under-35s most upbeat and Republicans slipping modestly.
The Silent Generation posted the steepest confidence drop while other generations stayed flat or fell slightly.
The home-price index rose 0.8 % in April, with Chicago up 6.5 % year-over-year and Seattle down 2.3 %.
The BLS recorded 7.6 million job openings in May and a 71,000-position gain in wholesale trade.

History

Historical Context

In October 1973 OAPEC imposed an oil embargo on the United States, pushing crude from about $3 to $12 a barrel—a 300 % jump that quadrupled U.S. gasoline prices and slashed consumer confidence. After the embargo lifted in March 1974, the shock spurred policies. Today, gasoline averages $3.85 per gallon and the consumer-confidence index rose to 91.2, echoing the 1970s link between fuel costs and spending optimism.

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Consumer Confidence Rises

Consumer confidence index rose to 91.2 in June, up from 90.6 in May.
Gasoline prices fell to $3.85 per gallon in mid-June, the first sub-$4 level since the Feb. 28 U.S.–Israel war with Iran began.
The share of consumers saying jobs were “hard to get” rose to 22.5 percent, the highest since Jan 2021, while analysts said spending stayed strong enough to support 2.5 percent annualized growth in the April-June quarter.

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