Despite markets hitting all-time highs, Americans are still quite pessimistic about the state of the economy. The University of Michigan Index of Consumer Sentiment, one of the most commonly cited surveys, reached a record low of 44.8 in May. Despite a slight rebound in June, sentiment indices suggest consumers remain very concerned about inflation and the elevated cost of living.
But a worried consumer isn’t necessarily a money-saving one. In fact, weak sentiment hasn’t translated into weak spending. Instead, that spending has been rerouted, much of it toward affordable, accessible domestic entertainment, and these three stocks are reaping the benefits with gains outpacing the broader market.
