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The Consumer Discretionary Select Sector SPDR ETF (XLY) was launched on 12/16/1998, and is a passively managed exchange traded fund designed to offer broad exposure to the Consumer Discretionary - Broad segment of the equity market.
We have highlighted five ETFs from different zones that have plunged the most so far this year but have a solid Zacks ETF Rank.
The online behemoth has an increased chance of beating estimates in its quarterly report. It also saw positive earnings revision activity, which is generally a precursor to an earnings beat.
Tesla Motors TSLA reported weaker-than-expected first-quarter 2024 results, missing estimates on both fronts. The electric automaker continued its losing streak for the third consecutive quarter and posted the biggest revenue drop since 2012.
Amazon (AMZN) registered its first new all-time high in almost three years, reflecting a dramatic rebound from its slump in 2022 and the resurgence of confidence in the company's future growth potential.
With consumer spending and sentiment on the upswing, the Consumer Discretionary Select SPDR ETF NYSE: XLY emerges as a potentially promising investment avenue. Its relevance in the current economic landscape cannot be overstated.
Tesla Inc. (TSLA) disappointed investors with its first year-over-year drop in quarterly deliveries since 2020.
Designed to provide broad exposure to the Consumer Discretionary - Broad segment of the equity market, the Consumer Discretionary Select Sector SPDR ETF (XLY) is a passively managed exchange traded fund launched on 12/16/1998.
The consumer discretionary sector has slowed post-COVID recovery as inflation has weighed on consumer spending growth. Elevated valuations and negative growth outlooks for top holdings in the Consumer Discretionary ETF raise concerns. Consumer spending is driven by borrowing rather than wages, which are arguably still not rising as fast as household living costs.