đź›’ XLY Declines as Tariffs Hit Sentiment, AMZN Slips on Prime Day Spending Drop | Retail Sector Insights
(XLY) declined by 0.4% during Tuesday trading, pressured by fresh tariff concerns after President Trump announced a 25% levy on imports from Japan and South Korea. Amazon weighed on the fund, falling after Prime Day sales came in below last year’s levels.
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Below are AI-generated insights on moves in the consumer discretionary sector, powered by MarketReader technology.
Tuesday, July 8
XLY [-0.4%]
Consumer Discretionary Select Sector SPDR Fund (XLY)
Consumer Discretionary Select Sector SPDR Fund (XLY) has experienced a decline of 0.4% during market hours on Tuesday. This movement coincides with President Trump's announcement of new tariffs of 25% on imports from Japan and South Korea, effective August 1, raising concerns about trade tensions that could adversely affect consumer discretionary spending. The Dow Jones Industrial Average dropped significantly, reflecting apprehension regarding these tariff implications for economic conditions relevant to consumer-focused sectors. Among XLY's holdings, Amazon.com Inc. reported a notable decline in stock price due to a decrease in Prime Day spending compared to the previous year, contributing negatively to the fund's performance. Additionally, the iShares iBoxx $ High Yield Corporate Bond ETF (HYG) declined, which may also influence XLY given their historical correlation.