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The United States Michigan Consumer Sentiment Final for July 2024 reported below expectations at 66.4, indicating a downward trend, influencing XLY's movement.
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Below are AI-generated insights on moves in the consumer discretionary sector, powered by MarketReader technology.
Friday, July 26
XLY [+1.2%]
Consumer Discretionary Select Sector SPDR Fund (XLY) rose 1.3%, aligning with the S&P 500 Index's 1.30% increase, showcasing their historical correlation. Top contributors to XLY's performance included AMZN, HD, LOW, SBUX, and NKE, with Amazon facing a July decline but holding recovery potential as per analysts. The United States Michigan Consumer Sentiment Final for July 2024 reported below expectations at 66.4, indicating a downward trend, influencing XLY's movement. Additionally, inflation expectations showed mixed results with short-term decreases but stable long-term outlooks, as per University of Michigan surveys.