Find a news story anywhere in the world:

Category:    

Keywords:   

Address:    
   
Stories Stories Business Wall Street Week Ahead: Hoping for a consumer discretionary turnaround

Wall Street Week Ahead: Hoping for a consumer discretionary turnaround

http://mireportz.com/media/reviews/photos/thumbnail/300x300s/02/66/46/18290-wall-street-week-ahead-hoping-for-a-consumer-discretionary-turnaround-35-1403342723.jpg
Written by Aldine      June 21, 2014    
 
0.0 (0)
271   0   2   0   0   0
 
Write Review
Wall Street Week Ahead: Hoping for a consumer discretionary turnaround.gif

Whether these stocks can snap out of that slump may hinge on what a clutch of high-profile names in the sector has to say about the health of consumer spending next week.

The S&P 500 consumer discretionary sector index .SPLRCD is down 1.1 percent since the end of 2013, the worst performance of any of the 10 macro sectors so far this year, while the benchmark index is up 6.2 percent.

Lot of the Forth

"It's one of the sectors that has really had a lot of the froth burnt out of it," said Quincy Krosby, market strategist at Prudential Financial, which is based in Newark, New Jersey. "Worries over the strength of the consumer, particularly in the lower end and middle, is ... reflected in the shares."

With turmoil in Iraq and rising oil prices, fuel costs during the U.S. summer travel season may be chief among those concerns, she said. That makes companies' third-quarter forecasts important.

[Read Full Article:  Wall Street Week Ahead: Hoping for a consumer discretionary turnaround]

Wall Street Week Ahead: Hoping for a consumer discretionary turnaround.jpg

Location

Epicentre
New York

Details

Author
CAROLINE VALETKEVITCH
Contributor's Comment
Shares of specialty retailers and apparel makers helped lead the charge off the market's bottom in March 2009 but unraveled this year, leaving consumer discretionary stocks as the sole sector to still be lower through the first half of 2014.
Swap Start/End

User reviews

There are no user reviews for this listing.

 
Site sponsored by BiStuff | Buy & Sell Locally