Young Americans are giving up on cars. 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-3.9%
Bank profits move with lending and interest rates
- BAC Bank of America-18.5%
Bank profits move with lending and interest rates
- WFC Wells Fargo-6.4%
Bank profits move with lending and interest rates
- C Citigroup-11.7%
Bank profits move with lending and interest rates
- GS Goldman Sachs-9.8%
Bank profits move with lending and interest rates
- MS Morgan Stanley-11.0%
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 | +0.94% | -0.37% | base | -1.69% | after close | after close | after close |
| BAC | +0.26% | -0.84% | base | -1.18% | after close | after close | after close |
| WFC | +1.02% | -1.03% | base | -0.87% | after close | after close | after close |
| C | +1.42% | +0.00% | base | -1.15% | after close | after close | after close |
| GS | -1.19% | -0.72% | base | -1.12% | after close | after close | after close |
| MS | -1.82% | -1.93% | base | -0.95% | after close | after close | after close |
| XLF | -2.05% | -1.68% | base | -1.44% | after close | after close | after close |
| KBE | -3.28% | -2.22% | base | -0.26% | after close | after close | after close |
| KRE | -3.51% | -2.40% | base | -0.55% | 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.
Market Call
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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 | that day | -1.18% | still updating |
| BAC | three days earlier | -0.84% | final price |
| BAC | five days earlier | +0.26% | final price |
| C | that day | -1.15% | still updating |
| C | three days earlier | 0.00% | final price |
| C | five days earlier | +1.42% | final price |
| GS | that day | -1.12% | still updating |
| GS | three days earlier | -0.72% | final price |
| GS | five days earlier | -1.19% | final price |
| JPM | that day | -1.69% | still updating |
| JPM | three days earlier | -0.37% | final price |
| JPM | five days earlier | +0.94% | final price |
| KBE | that day | -0.26% | still updating |
| KBE | three days earlier | -2.22% | final price |
| KBE | five days earlier | -3.28% | final price |
| KRE | that day | -0.55% | still updating |
| KRE | three days earlier | -2.40% | final price |
| KRE | five days earlier | -3.51% | final price |
| MS | that day | -0.95% | still updating |
| MS | three days earlier | -1.93% | final price |
| MS | five days earlier | -1.82% | final price |
| WFC | that day | -0.87% | still updating |
| WFC | three days earlier | -1.03% | final price |
| WFC | five days earlier | +1.02% | final price |
| XLF | that day | -1.44% | still updating |
| XLF | three days earlier | -1.68% | final price |
| XLF | five days earlier | -2.05% | 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 49 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 49 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 57 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 44 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 60 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 28 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 36 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 38 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 29 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 49 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 29 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 50 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 100Price not final
“Young Americans are giving up on cars. It’s a path to financial freedom for some.” scores 12 out of 100. The score uses 1 sources. The price is not final yet.