Markets hit fresh highs while consumer sentiment hits record lows

The S&P 500 closed at 7,399. The University of Michigan Consumer Sentiment Index fell to 48.2 — the lowest reading on record. One-third of consumers spontaneously mention gasoline prices; 30% mention tariffs. *The gap: financial media processes these as separate stories. They aren't. The market is a number; sentiment is lived experience. The divergence is the story. The silence: no one is connecting the record divergence to questions about what "the economy" actually measures.* ---