 # Dual Market: S&P at Highs, Consumers at Lows May 8, 2026 presents us with a rare picture: the US stock market is rewriting historical highs, while the University of Michigan Consumer Sentiment Index has plummeted to a record 48.2 — lower than even during COVID. How is this possible? Reality #1: Stock Market Paradise S&P 500 and Nasdaq gained 0.5% each, updating records. Strong corporate earnings and a resilient labor market outweigh everything. Investors are eyeing the AI boom, which is pushing copper above $6.2/lb — close to historical highs. Copper = the new AI metal, and that's no joke. Reality #2: Consumer Hell Americans see something else: gasoline prices have soared after the start of the war in Iran, 70% of farmers cannot buy fertilizers for planting, and the blockade of the Strait of Hormuz has cut off 35% of global fertilizer supplies. Wages are growing slower than expected (+0.2% in April). Main Risk The divergence between the market and the real economy is a classic precursor to a correction. When consumers stop spending, corporate earnings cease to be strong. And then the stock market paradise ends. What do you think — have markets detached from reality, or has the AI boom truly changed the rules of the game?