• Emerge
  • Posts
  • 🚀 Spending falls as prices rise

🚀 Spending falls as prices rise

Author

Liam Gill
April 24, 2026

In partnership with

Market Overview
Read time 1.4 minutes

Year To Date Performances:

Dow Jones  49,360.10 2.70%
S&P 500  7,125.99 4.10%
Nasdaq  24,549.84 5.63%
Russell 2000 2,789.28 12.38%
TSX  33,966.53 7.11%
Bitcoin $77,661.46 -12.26%
Ethereum $2,324.54 -21.75%
US to Canadian Dollar $1.37 -0.06%

  1. Nearly 80% of Americans have significantly altered their spending habits as gasoline prices remain stalled above $4 per gallon. Data shows that the surge—a 30% increase since the start of the U.S.-Iran conflict—is forcing 60% of respondents to cut back on entertainment and over 50% to scale back travel plans. Alarmingly, 40% of those surveyed are now spending less on essentials like groceries and medical care, while 30% report an increased reliance on credit cards to bridge the gap.

  2. The Trump administration moved on Thursday to reclassify cannabis from Schedule I to Schedule III, a historic federal shift that officially recognizes the plant’s medicinal value for the first time. While this does not federally legalize marijuana, the Department of Justice’s immediate move to reclassify FDA-approved and state-regulated medical products will eliminate the punitive IRS Code Section 280E, allowing cannabis businesses to deduct standard operating expenses like rent and payroll. The shift also lowers longstanding DEA barriers for clinical researchers, enabling more robust studies into therapeutic applications for PTSD, chronic pain, and epilepsy.

  3. American Airlines lowered its 2026 earnings guidance on Thursday, citing a massive $4 billion increase in fuel expenses driven by the ongoing Middle East conflict. The carrier now expects adjusted earnings to range from a loss of $0.40 to a profit of $1.10 per share, a sharp decrease from the $1.70 to $2.70 range projected in January. Despite these headwinds, CEO Robert Isom highlighted record first-quarter revenue of $13.91 billion, noting that strong demand and a focus on premium loyalty revenue are helping to offset the "war premium" currently baked into jet fuel prices.

    Headlines

    1. American Airlines CEO has said that a merger with United would be bad for customers in a rejection of the proposal by United.

    2. Southwest Airlines has lowered its 2026 projections due to rising fuel costs.