US consumer sentiment among non-stockholders stands at near the lowest level in at least 8 years.

At the same time, sentiment among the largest stockholders is up to the highest in 12 months.

The gap between the two groups has widened to ~15 points, the highest since 2024.

This comes as the average American is barely keeping up with ever-rising living costs.

The world’s largest economy has almost never been so uneven.