Stock market props U.S. economy despite stalled jobs and political uncertainty

The stock market is keeping the U.S. economy afloat while jobs stay flat and politics add more uncertainty. Consumer spending in August beat forecasts and incomes rose, even as many expected the country to already be near recession. Households and companies kept buying big items. Inflation was muted. Housing surprised with new home sales hitting a three-year high. In earlier years, this kind of momentum came from stimulus checks, low rates, and liquidity from the Federal Reserve.