ETFs
Consumer ETFS | Fox Business
‘Varney & Co.’ host Stuart Varney discusses the latest efforts by Senators Elizabeth Warren and Bernie Sanders to tax the rich.
Investors try to evaluate real picture of inflation should pay close attention to how and where consumers spend their money, and two exchange-traded funds tell part of that story, as Larry McDonald, founder of the Bear Traps Report, pointed out during an appearance on FOX Business.
The SPDR Consumer Discretionary Select Sector ETF, which counts General Motors, Chipotle and Deckers among its top holdings, is down for the year as consumers trade their spending on items they want for items they need .
| XLY | CONSUMPTION DISCRETIONARY SELECTIVE SECTOR SPDR ETF | 177.37 | -1.33 | -0.74% |
By comparison, the Consumer Core Select Sector SPDR ETF ithat’s up more than 8%. Its major holdings include Procter & Gamble, Costco and Walmart.
| XLP | CONSUMER STAPLES SELECT SECTOR SPDR ETF | 77.69 | -0.52 | -0.66% |
SPDR ETF for Select Consumer Staples Sectors
Walmart, the nation’s largest retailer, said this week that it continues to attract high-income shoppers, meaning those with incomes above $100,000.
“We’re seeing the effect of that in our business specs, as they’re spending more of their salary on non-discretionary categories and less on general merchandise,” CFO John David Rainey told analysts at the conference telephone call on the results on Thursday.
Wealthy shoppers are hitting Walmart in droves
Walmart shares hit a new record high this week following quarterly results.
| BURBY | BURBERRY GROUP PLC | 13.7 | -0.38 | -2.66% |
A general view of seasonal windows at the Burberry store on December 11, 2013 in New York. ((Photo by Ben Hider/Getty Images))
Luxury fashion house Burberry, whose traditional men’s trench coat retails for $2,500, has dropped a bombshell on investors, revealing that its annual profits fell 34% and its store sales comparables decreased by 1%.
“Executing our plan amid slowing demand for luxury goods has been a challenge,” Burberry CEO Jonathan Akeroyd said in the report.
Luxury fashion house Burberry has revealed that its annual profits fell by 34% and its same-store sales fell by 1%. ((Photo by Claudio Lavenia/Getty Images))
The consumer price index for April painted a mixed picture for Wall Street.
INFLATION IN APRIL REMAINS HIGH
Annual inflation remained high, standing at 3.4% from 3.5% in March, while month-on-month prices declined to 0.3% from 0.4%, as the Bureau of Labor Statistics reported.