🛒 Levi's Struggles Amid Lowered Revenue Guidance, Stellantis Hits Two-Year Low, and Amazon Faces Profit Concerns While Alibaba and NIO Tumble in a Volatile Market | Retail Sector Insights
Among the ETF's holdings, notable declines were observed in Amazon, Tesla, TJX, Home Depot, and Chipotle Mexican Grill, with Amazon planning to hire seasonal workers amid profit concerns.
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Below are AI-generated insights on moves in the consumer discretionary sector, powered by MarketReader technology.
Thursday, October 3
XLY [-1.4%]
Consumer Discretionary Select Sector SPDR Fund (XLY)
The Consumer Discretionary Select Sector SPDR Fund (XLY) has seen a decline of 1.4% since Wednesday. Geopolitical tensions in the Middle East, particularly following missile attacks and airstrikes, have raised concerns about oil supply disruptions, contributing to a nearly 5% rise in crude oil prices. This situation may exert inflationary pressures on consumer discretionary spending. Additionally, initial jobless claims rose to 225,000, exceeding expectations, which typically leads to significant reactions in XLY. The ISM Services PMI reported strong growth at 54.9, suggesting resilience in the economy. Among the ETF's holdings, notable declines were observed in Amazon, Tesla, TJX, Home Depot, and Chipotle Mexican Grill, with Amazon planning to hire seasonal workers amid profit concerns. The S&P 500 Index also declined by 0.37%, reflecting broader market sentiment that may impact discretionary spending.