🛒 Tesla and Rivian Struggle, While GM and Carvana See Growth | Retail Sector Insights
Among the ETF's holdings, Home Depot and TJX Companies were top contributors to performance, despite TJX experiencing a slight decline over the past month.
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Below are AI-generated insights on moves in the consumer discretionary sector, powered by MarketReader technology.
Wednesday, April 2
XLY [+0.2%]
Consumer Discretionary Select Sector SPDR Fund (XLY)
JPMorgan's recent spending data reveals a generational divide in consumer behavior. Overall spending growth has slowed, while younger consumers, particularly Gen Z and Millennials, have increased their spending significantly. In contrast, discretionary spending has lagged, as consumers focus on essentials. The Consumer Discretionary Select Sector SPDR ETF (XLY) is down substantially year-to-date and over the past month. Notably, spending at gas stations has declined sharply, attributed to lower oil prices, potentially allowing consumers to allocate funds elsewhere. Among the ETF's holdings, Home Depot and TJX Companies were top contributors to performance, despite TJX experiencing a slight decline over the past month. Amazon has resumed its drone delivery program after a software-related pause, aiming for substantial annual deliveries by the decade's end, and is enhancing digital transformation in manufacturing through partnerships.