🛒 XLY Falls as Fed Minutes Signal Hawkish Tone; Xpeng and NIO Surge on Strong Sales | Retail Sector Insights
(XLY) slid 0.58%, mirroring declines in Staples and REITs as Fed minutes emphasized inflation risks over labor softness. Amazon, Tesla, Home Depot, TJX, and Starbucks dragged on performance, with Amazon under data privacy scrutiny.
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Thursday, August 21
XLY [-0.5%]
Consumer Discretionary Select Sector SPDR Fund (XLY)
The Consumer Discretionary Select Sector SPDR Fund (XLY) has recently declined, reflecting a broader downturn in the market. The fund dropped by approximately 0.58%, consistent with declines in the Consumer Staples sector and REITs, which fell by 0.7% and 0.3%, respectively. Recent minutes from the Federal Reserve's meeting revealed a hawkish stance, highlighting inflation risks over labor market concerns, which may affect consumer discretionary spending. Additionally, Walmart reported mixed second-quarter results, missing earnings estimates while slightly increasing U.S. comparable sales, suggesting challenges within the sector. Among XLY's holdings, Amazon, Tesla, Home Depot, TJX Companies, and Starbucks all contributed negatively to the fund's performance. Notably, Amazon faces regulatory scrutiny regarding data privacy, while TJX received positive analyst updates following strong earnings. The S&P 500 Index also declined by 0.36%, indicating a correlation with XLY's recent performance.