đŸ›’Consumer Discretionary ETF Dips as Tesla, CarMax, and Tapestry Drag Sector Lower | Retail Sector Insights
(XLY) fell in line with broader market weakness, pressured by steep losses in CarMax, Tapestry, and Deckers Outdoor. Tesla and Amazon also weighed on performance, while Nike and Lululemon faced fresh analyst downgrades.
Welcome to the MarketReader Minute.
Below are AI-generated insights on moves in the consumer discretionary sector, powered by MarketReader technology.
Thursday, September 25
XLY [-1.4%]
Consumer Discretionary Select Sector SPDR Fund (XLY)
The Consumer Discretionary Select Sector SPDR Fund (XLY) is currently experiencing a decline, reflecting broader market trends with the NYSE showing more decliners than advancers. The sector has dropped significantly, with notable underperformers including CarMax, which fell sharply, and Tapestry, which also recorded a decline. Other significant declines were seen in Deckers Outdoor and Tesla. Among the ETF's holdings, Tesla and Amazon contributed negatively to performance, alongside Nike and Lululemon, which faced downgrades due to various challenges. Additionally, recent data on U.S. Existing Home Sales showed a slight increase but continued to reflect a downward trend, contributing to volatility. The S&P 500 Index has also declined, aligning with the movement in XLY.