U.S. consumer confidence rose 7.5 points to 91.7 in October, exceeding analysts' expectations, primarily boosted by a drop in retail gasoline prices from September to October. The data, released by the Conference Board on Tuesday, comes one week before the midterm elections. Economist Fergus McCormick noted that despite the rebound in October, consumer confidence remains in a long-term downward trend over the past few years. U.S. President Donald Trump welcomed the "big jump" on social media, but his war with Iran has led to rising global energy prices, causing U.S. gasoline prices to increase by over 40% since the conflict began, exacerbating inflation, while the cost of living is a core voter concern in the upcoming November 3 election.