LIVE MARKETS-Consumer discretionary up on day, but still biggest loser YTD

Reuters03-24

S&P 500, Dow both up >1%, Nasdaq rallies ~2%

All S&P 500 sectors higher; Consumer Discretionary up most

Dollar up; crude up ~1%; bitcoin rallies ~4%; gold dips

US 10-Year Treasury yield rises to ~4.32%

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com

CONSUMER DISCRETIONARY UP ON DAY, BUT STILL BIGGEST LOSER YTD

The consumer discretionary index .SPLRCD is leading gains among S&P 500 .SPX sectors on Monday, up 3.4% in afternoon trading, though the sector remains down the most year-to-date.

Lori Calvasina, head of U.S. equity strategy research at RBC Capital Markets, in a note Monday wrote that it's unclear whether U.S. consumers "were actually pulling back on their spend, or simply shifting what they were spending their money on, with a bias towards the latter."

Shares of Tesla TSLA.O and Amazon.com AMZN.O are giving the discretionary index its biggest boost on Monday, with Tesla shares up more than 10% in afternoon trading amid news reports the Trump administration is likely to exclude a set of sector-specific tariffs while applying reciprocal levies on April 2.

Even with the session's move, Tesla remains down 32% year-to-date.

The consumer discretionary index is down 11% for the year, including the session's move.

On Friday, shares of Nike NKE.N fell after a warning of another quarterly sales decline sparked worries about the pace of a crucial turnaround at the company.

(Caroline Valetkevitch)

*****

FOR MONDAY'S EARLIER LIVE MARKETS POSTS:

JUST THE EYE OF THE STORM? - CLICK HERE

STAGFLATION FEARS ARE FLOATING ABOUT, BUT JUST HOW REAL ARE THEY? - CLICK HERE

NICE PMI REPORT - TOO BAD IT'S FLEETING - CLICK HERE

A TOUGH TIME FOR BRAZILIAN EQUITIES - CLICK HERE

U.S. INDEXES UP MORE THAN 1%, WITH CONSUMER DISCRETIONARY, TESLA LEADING - CLICK HERE

DOW INDUSTRIALS FLIRT WITH CORRECTION; TRANSPORTS FLIRT WITH BEAR - CLICK HERE

FX HEDGE ADJUSTMENTS TO LEAD TO EURO SELLING - CLICK HERE

DON'T TURN YOUR BACK ON EUROPEAN VALUE RETAILERS YET - CLICK HERE

EUROPEAN STOCKS FLAT, MINERS RISE - CLICK HERE

EUROPE BEFORE THE BELL: STOCKS HEAD FOR UPLIFT DESPITE TARIFF ANXIETY - CLICK HERE

IN GOOD SPIRITS AFTER HINTS OF TARIFF RETREAT - CLICK HERE

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment