🛒 XLY Falls Amid Rising Treasury Yields, McDonald's E. Coli Outbreak, and Starbucks' Weak Q4 Results | Retail Sector Insights
(XLY) has seen a daily return decline of 0.9%, influenced by rising U.S. Treasury yields, which have reached their highest levels in months amid concerns over fiscal deficits and inflation's impact on consumer discretionary spending.
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Wednesday, October 23
XLY [-0.9%]
Consumer Discretionary Select Sector SPDR Fund (XLY)
The Consumer Discretionary Select Sector SPDR Fund (XLY) has seen a daily return decline of 0.9%, influenced by rising U.S. Treasury yields, which have reached their highest levels in months amid concerns over fiscal deficits and inflation's impact on consumer discretionary spending. McDonald's shares dropped significantly due to an E. coli outbreak linked to its Quarter Pounder hamburgers, raising food safety concerns that could affect overall consumer confidence within the sector. Among the ETF's holdings, McDonald's experienced a notable decline in shares, contributing to the overall performance drop, while Starbucks also faced a downturn following disappointing preliminary fourth-quarter results. The S&P 500 Index has declined by 0.22%, reflecting broader market sentiment that may be influencing the performance of discretionary stocks.