Consumer Discretionary Select Sector SPDR Fund (XLY)
Pre-market:
- Yahoo Finance Video
Market is 'evolving' towards consumer discretionary: Strategist
In the first quarter of 2024, many of the AI-led tech companies performed well, with some of the Magnificent Seven experiencing a fall from grace. With some uncertainty moving ahead, and a potential pullback from historic highs, Citi has downgraded the tech sector from Overweight to Market Weight, citing a broadening out of market gains, while upgrading the consumer discretionary sector to Overweight. Citi US Equity Strategist Scott Chronert joins Yahoo Finance to break down the calls for these sectors and take a look into how the market may perform moving forward. Chronert elaborates on his position: "The market's evolving, the market's evolving away from the tech and cyclical leadership that we've had since early November. We think we're starting to see signs that the market is gradually positioning in favor of those parts of the market that should at the margin benefit from an eventual Fed [Federal Reserve] pivot, consumer [discretionary] is front and center on that. " For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino
- Yahoo Finance
The S&P 500 is up 5 months straight — and history favors momentum
The S&P 500 has had a remarkable run over the past five months, chalking up a 25% gain. But contrary to feelings that things have risen too quickly, history says that strength begets strength.
- Yahoo Finance Video
Stocks open higher, steadying after Monday pullbacks
The stock market (^DJI, ^IXIC, ^GSPC) is in bloom, opening the morning in the green after Monday's pullbacks. Consumer discretionary stocks (XLY) lead sector gains this morning. Yahoo Finance Live analyzes the market and sector action happening after Tuesday's market open. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan.
