Consumer Stock Plunge Ends in Bet on Spending: EcoPulse
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Investors are showing more confidence in U.S. spending after the worst slump in 12 months for shares of consumer-discretionary companies.
After falling to a one-year relative low on May 7, the Standard & Poor’s 500 GICS Consumer Discretionary Sector Index is starting to rally, outpacing the benchmark S&P 500 Index by 1.4 percentage points since then. This suggests an easing of concerns about the economy that fueled a 6.9 percentage-point decline earlier this year in the large-cap consumer group -- made up of Amazon.com Inc., Walt Disney Co. and 83 other companies.