🚨 🇺🇸 GAS SPENDING JUMPS 45-50% AS HOUSEHOLD PRESSURE HITS THE MARKET STORY Wells Fargo CFO Mike Santomassimo said US consumers are spending 45-50% more on gas, with the comment tied to the Morgan Stanley US Financials Conference on June 9. Higher fuel bills are hitting wallets while spending still holds up. This is the squeeze traders must watch. Gas takes money before restaurants, retail and travel get their share. Retail weakens when fuel drains cash. Energy stays supported when pump prices keep household budgets under pressure.
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