Daily Rundown

October 12, 2026

Chart of the Day

Number of the Day

5

Each of the top five lowest readings in the history of the University of Michigan consumer sentiment index have come in 2026

Quote of the Day

“The top 40 percent of U.S. households, which make up the majority of Delta’s customer base, are nearly $40 trillion wealthier than they were just a few years ago, and increasingly prioritizing experiences, including travel.”

Delta CEO Ed Bastian

Friday’s Highlights

Consumer sentiment (October) fell to 46.3 from a prior 48.1.

Delta revenue passenger miles (Q3) inched up by 0.8 percent year-over-year.

Quick Commentary

The bright spot in Friday’s consumer sentiment report was the improvement in the expectations component, which is back above the present situation index for the first time in three months. More broadly, it is a good bet that there will be some stabilization in sentiment once energy prices recede again, although the knock-on effects for consumer spending are likely to be limited given that discretionary consumption is already quite healthy. More likely, the risks to spending going forward are tilted to the downside given the potential for a stock market pullback to reverse the robust wealth effects of the last several years.

Daily Trivia

What group of seven companies entered the S&P 500 together in 1983, one month before they were legally independent?

(Tuesday’s Question: What country’s exports to the U.S. are dominated by the “Pearls, precious stones, precious metals, and coins” category, which accounted for roughly half of the total in 2025? Answer: Switzerland)