Young Americans are giving up on car ownership. It’s a path to financial freedom for some.
Published . Updated .
With vehicle prices soaring and ownership increasingly out of reach, some young adults are discovering that life without a car leaves them with breathing room to spend on other things.
Directly affected
- No company is named in this report.
Indirectly affected
- JPM JPMorgan Chase-5.3%
Bank profits move with lending and interest rates
- BAC Bank of America-15.0%
Bank profits move with lending and interest rates
- WFC Wells Fargo-7.1%
Bank profits move with lending and interest rates
- C Citigroup-11.4%
Bank profits move with lending and interest rates
- GS Goldman Sachs-11.4%
Bank profits move with lending and interest rates
- MS Morgan Stanley-13.1%
Bank profits move with lending and interest rates
- XLF Financial Select Sector SPDR-3.9%
A fund of financial companies
- KBE SPDR S&P Bank-3.4%
A fund of bank stocks
- KRE SPDR S&P Regional Banking-4.4%
Regional banks are sensitive to deposits and rates
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| JPM | +0.58% | +1.08% | base | after close | after close | after close | after close |
| BAC | -0.32% | +0.51% | base | after close | after close | after close | after close |
| WFC | -0.72% | +0.04% | base | after close | after close | after close | after close |
| C | +0.85% | +2.63% | base | after close | after close | after close | after close |
| GS | +0.00% | +3.31% | base | after close | after close | after close | after close |
| MS | -0.60% | +4.25% | base | after close | after close | after close | after close |
| XLF | -1.49% | +0.21% | base | after close | after close | after close | after close |
| KBE | -4.13% | -2.34% | base | after close | after close | after close | after close |
| KRE | -4.40% | -2.55% | base | after close | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
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With vehicle prices soaring and ownership increasingly out of reach, some young adults are discovering that life without a car leaves them with breathing room to spend on other things.
Source: MarketWatch
This story
| Company | When | Move | Status |
|---|---|---|---|
| BAC | three days earlier | +0.51% | final price |
| BAC | five days earlier | -0.32% | final price |
| C | three days earlier | +2.63% | final price |
| C | five days earlier | +0.85% | final price |
| GS | three days earlier | +3.31% | final price |
| GS | five days earlier | 0.00% | final price |
| JPM | three days earlier | +1.08% | final price |
| JPM | five days earlier | +0.58% | final price |
| KBE | three days earlier | -2.34% | final price |
| KBE | five days earlier | -4.13% | final price |
| KRE | three days earlier | -2.55% | final price |
| KRE | five days earlier | -4.40% | final price |
| MS | three days earlier | +4.25% | final price |
| MS | five days earlier | -0.60% | final price |
| WFC | three days earlier | +0.04% | final price |
| WFC | five days earlier | -0.72% | final price |
| XLF | three days earlier | +0.21% | final price |
| XLF | five days earlier | -1.49% | final price |
Congressional trades in the stocks in this story
- Sen. Sheldon Whitehouse sold Jpmorgan Chase (JPM), worth $15,001 - $50,000 on 4 Sep 2026. That is 50 days before publication. Filed 1 Oct 2026. View the filing.
- Sen. Sheldon Whitehouse sold Jpmorgan Chase (JPM) (held by a spouse), worth $15,001 - $50,000 on 4 Sep 2026. That is 50 days before publication. Filed 1 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Jpmorgan Chase (JPM) (held by a spouse), worth $100,001 - $250,000 on 27 Aug 2026. That is 58 days before publication. Filed 4 Sep 2026. View the filing.
- Rep. Rohit Khanna sold Bank Of America (BAC) (held by a spouse), worth $1,001 - $15,000 on 9 Sep 2026. That is 45 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Laurel Lee sold Bank Of America (BAC) (held by a spouse), worth $50,001 - $100,000 on 24 Aug 2026. That is 61 days before publication. Filed 16 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Wells Fargo (WFC) (held by a spouse), worth $1,001 - $15,000 on 25 Sep 2026. That is 29 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Wells Fargo (WFC) (held by a dependent child), worth $15,001 - $50,000 on 17 Sep 2026. That is 37 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Wells Fargo (WFC) (held by a dependent child), worth $1,001 - $15,000 on 15 Sep 2026. That is 39 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Maria Elvira Salazar sold Citigroup (C), worth $1,001 - $15,000 on 24 Sep 2026. That is 30 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Citigroup (C) (held by a spouse), worth $1,001 - $15,000 on 4 Sep 2026. That is 50 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Maria Elvira Salazar sold Goldman Sachs Group (GS), worth $1,001 - $15,000 on 24 Sep 2026. That is 30 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Michael Rulli bought Goldman Sachs Group (GS), worth $1,001 - $15,000 on 3 Sep 2026. That is 51 days before publication. Filed 2 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
This story
12 out of 100
“Young Americans are giving up on car ownership. It’s a path to financial freedom for some.” scores 12 out of 100. The score uses 1 sources.