XLY Stock Recent News

Ironically, the time of ghouls and ghosts often turns out to be a time of angels for Wall Street. This is thanks to the Halloween Effect, which normally brightens the financial markets.

Amazon (AMZN) reported robust third-quarter results, wherein it beat both earnings and revenue estimates. Amazon's cloud computing platform, a record-high Prime Day and a rapidly growing ad sales business drove the results.

The United States witnessed a substantial economic growth in the third quarter of 2023, with the real gross domestic product growing at an annual rate of 4.9%, beating the economists' expectations of 4.7%.

Amazon has lost 0.5% over the past three months and underperformed the industry, with an average decline of 7%. The underperformance might reverse if the online behemoth comes up with an earnings beat.

Tesla Motors (TSLA) reported weaker-than-expected Q3 results, missing estimates on both fronts. The electric automaker posted its lowest profit in two years.

XLY: Consumer Discretionary Dashboard For October

Electric vehicle maker Tesla TSLA will release its Q3 earnings on Oct 18 after the close of the markets. It's been a successful year for TSLA investors, with the stock showing an amazing performance by more than doubling in value.

Tesla stock has plunged about 13% over the past three months, underperforming the Zacks industry average decline of 8%. The underperformance might reverse if Tesla beats estimates this quarter.

Total S&P 500 earnings are expected to be down 2% from the same period last year on 0.6% lower revenues, per the latest Earnings Trends.

Look into Tesla-heavy ETFs, as Tesla's "gigacasting" method is estimated to give the world's largest EV manufacturer an edge over its counterparts.