Influence of the Upper Class on Consumption Grows
Lower-Class Spending Slows, but Impact Remains Limited
U.S. stock markets continue to reach new record highs, yet consumer sentiment is declining. Analysts say this reflects a shift in the U.S. economy, where corporate investment now has a greater impact than consumer spending.
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According to Hana Securities’ report titled “Asset Allocation Window: What Is Supporting the U.S. Economy Right Now,” the overall sentiment in the U.S. economy is weakening, but capital is flowing into asset markets.
The three major U.S. indices are on the rise. As of May 28 (local time), the S&P 500 Index closed at 7,563.63, up 43.27 points (0.58%) from the previous trading day. The Dow Jones Industrial Average increased by 24.69 points (0.05%) to 50,668.97, and the Nasdaq Index…
