🛒 XLY Climbs as CPI Rises; Mogu Surges to 52-week high After $20M Crypto Allocation | Retail Sector Insights
XLY advanced nearly 2%, tracking broad sector gains as August CPI rose 0.4% and annual inflation accelerated to 2.9%. Surging jobless claims lifted expectations of Fed rate cuts, with Tesla, Home Depot, and Lowe’s driving XLY’s performance amid wider market optimism.
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Below are AI-generated insights on moves in the consumer discretionary sector, powered by MarketReader technology.
Thursday, September 11
XLY [+1.9%]
Consumer Discretionary Select Sector SPDR Fund (XLY)
The Consumer Discretionary Select Sector SPDR Fund (XLY) has increased by 1.9% since the previous close, aligning with a broader upward movement across all 11 S&P sectors. The Consumer Discretionary sector itself has risen by 1%, alongside Materials, Healthcare, and Industrials, which have also posted gains. The U.S. Consumer Price Index (CPI) rose by 0.4% in August, with the annual inflation rate accelerating to 2.9%, leading to expectations of potential Federal Reserve interest rate cuts next week. Additionally, initial jobless claims unexpectedly surged to a four-year high, indicating weakening labor market conditions. Notably, top contributors to XLY's performance include Tesla, Home Depot, and Lowe's, with Tesla showing a significant return. The Dow Jones Index has also increased by 1.3%, reflecting broader market sentiment that may influence XLY's performance.