US Launches New Iran Strikes as Strait of Hormuz Conflict Escalates, Oil Prices Rise 
Gold Prices Slip as Stronger Dollar, Fed Rate Outlook Weigh on Bullion 
US Stock Futures Steady as US-Iran Tensions and Fed Inflation Concerns Weigh on Markets 
China Inflation Cools in June as Producer Prices Hit Four-Year High 
Chinese Chip Stocks Jump as Apple Reportedly Tests CXMT Memory Chips for China Devices 
Asian Currencies Slip as Stronger US Dollar, Iran Tensions Pressure Regional FX 
US Stock Futures Steady as Middle East Tensions and Fed Minutes Keep Investors Cautious 
South Korea’s KOSPI Plunges as Samsung, AI Chip Stocks Trigger Market Sell-Off 
Asia Stocks Fall as Samsung Earnings Fail to Ease AI Valuation Concerns 
Oil Prices Rise as Strait of Hormuz Risks Offset OPEC+ Supply Increase 
Cuba Power Grid Collapse Triggers Nationwide Blackout Amid Deepening Energy Crisis 
Asian Stocks Slip as Iran Tensions, Samsung Weakness and Fed Caution Weigh on Markets 
Asian Stocks Slip as AI Chip Valuation Fears, Rising Oil Prices Weigh on Markets 
European Stocks Hold Steady as Consumer Shares Rise, AI Tech Selloff Weighs on Markets 
RBNZ Raises Interest Rates to 2.50%, Signals More Tightening as Inflation Risks Persist 
Nasdaq Futures Slide as AI Chip Stocks Sink Despite Samsung Earnings; SpaceX Debuts in Nasdaq-100 
U.S. back-to-school spending is expected to decline in 2026 as families become more cautious about their finances amid growing economic uncertainty, according to a Deloitte survey released on Thursday. While parents remain committed to preparing their children for the school year, many are shifting spending toward essential items and delaying non-essential purchases.
Deloitte projects total back-to-school spending for households with K-12 students will reach $30.4 billion, with average spending of $557 per student, down from $570 a year earlier after adjusting for inflation. The report also found that 57% of consumers expect the U.S. economy to worsen over the next six months, marking the highest level of economic pessimism since 2020.
The survey indicates that parents will prioritize necessities such as clothing and school supplies while reducing spending on technology products. To make room in their budgets, nearly half of surveyed households said they plan to cut back on discretionary expenses, including dining out and entertainment.
Another notable trend is that families are waiting longer before making purchases, with many planning to shop closer to the start of the school year. This contrasts with other retail forecasts that suggest consumers are beginning their back-to-school shopping earlier this summer.
Despite the emphasis on saving money, value-conscious shoppers are not necessarily spending less. Deloitte found that roughly one-third of parents qualify as "hyper value-seekers," yet this group is expected to spend about 14% more than other consumers by strategically taking advantage of promotions and discounts.
"We see parents approach back-to-school shopping with intent. They tend to be more thoughtful about their spending and value-seeking strategies to help maximize their wallets," said Brian McCarthy, principal of retail strategy at Deloitte Consulting.
Separately, PwC forecasts average back-to-school spending will reach $922 per family this year, about 47% higher than in 2025. The National Retail Federation estimates the back-to-school shopping season accounted for approximately 2.3% of total U.S. retail sales, with consumers spending $128.2 billion in 2025.
Deloitte's findings are based on an online survey conducted from May 22 to May 29 involving 1,207 parents with at least one child in grades K-12.
