After briefly touching a new intra-day high this week, the SPDR S&P 500 ETF Trust (NYSE: SPY) fell back below its 50-day moving average and has once again inserted itself into a broad trading range. Investors are likely feeling frustrated this year with the bifurcated nature of the markets that has seen growth sectors soar, while value names collapse.
Perhaps the strongest sector this week was the Consumer Discretionary SPDR (ETF) (NYSE: XLY), which added to gains on the back of strong quarterly results from Amazon.com, Inc. (NASDAQ: AMZN) and Starbucks Corporation (NASDAQ: SBUX). This all-important gauge of consumer activity is showing no signs of slowing down this year after hitting new highs.
The ...
/www.benzinga.com/etfs/sector-etfs/15/07/5702775/best-and-worst-etfs-of-the-week-amid-consumer-discretionary-strength alt=Best And Worst ETFs Of The Week Amid Consumer Discretionary Strength>Full story available on Benzinga.com
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