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(XLY) is seeing a price increase of 0.7% in pre-market trading, reflecting broader market optimism following strong retail sales during the Black Friday shopping period. Mastercard SpendingPulse reported a 14.6% year-over-year growth in e-commerce, contributing to this positive sentiment.
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Below are AI-generated insights on moves in the consumer discretionary sector, powered by MarketReader technology.
Monday, December 2
XLY [+0.7%]
Consumer Discretionary Select Sector SPDR Fund (XLY)
The Consumer Discretionary Select Sector SPDR Fund (XLY) is seeing a price increase of 0.7% in pre-market trading, reflecting broader market optimism following strong retail sales during the Black Friday shopping period. Mastercard SpendingPulse reported a 14.6% year-over-year growth in e-commerce, contributing to this positive sentiment. Recent consumer spending data indicates a significant rise, with expenditures reaching $10.8 billion, a 10.2% increase from the previous year. November spending totaled $107.3 billion, with projections for holiday season online sales hitting a record $241 billion. Social media discussions highlight XLY's recent performance milestone, achieving its highest monthly close ever, while discretionary stocks attracted 13% of total financial inflows in November. Key contributors to XLY's performance include Tesla and Amazon, both of which are adapting their strategies to enhance profitability and market presence amidst ongoing economic uncertainties.