🛒 Consumer Discretionary Rises on Strong Durable Goods Data; Amazon Gains | Retail Sector Insights
Consumer Discretionary stocks advanced as the U.S. dollar hit its lowest level since March 2022, easing global financial conditions. Durable goods orders surprised to the upside, signaling resilient demand. Amazon led gains on bullish sentiment, while Nike rose ahead of earnings.
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Thursday, June 26
XLY [+1.0%]
Consumer Discretionary Select Sector SPDR Fund (XLY)
The U.S. Dollar has weakened significantly today, reaching its lowest level since March 2022, due to concerns over Federal Reserve independence amid criticism of Fed Chair Jerome Powell. This decline is positively affecting consumer discretionary stocks like the Consumer Discretionary Select Sector SPDR Fund (XLY). Strong durable goods orders unexpectedly surged, indicating robust demand that could benefit companies within XLY's portfolio. Among the ETF's holdings, Amazon saw a notable increase amid bullish sentiment following executive changes, while Nike's shares rose ahead of its fiscal fourth-quarter earnings report. Additionally, Airbnb experienced a decline in insider confidence after a significant stock sale by a director. The Russell 2000 Index also increased, reflecting positive sentiment in the broader market and contributing to the 1.0% rise in XLY.