US consumer stocks are struggling: The Equal-Weight Consumer Discretionary ETF, RSPD, is down -8.0% so far in 2026, to near its lowest level since June 2025. At the same time, the S&P 500 is up +13.9%, and is just 0.3% below its all-time high. This leaves a massive 22-percentage-point gap in year-to-date performance. Consumer discretionary stocks are under pressure amid weakening demand, particularly for purchases such as autos, furniture, and home-improvement goods. At the same time, rising oil prices, elevated inflation, and rising borrowing costs are squeezing household budgets.. As a result, earnings in the Consumer Discretionary and Consumer Staples sectors are expected to decline for the first time since the end of 2024. Is the consumer running out of money?