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Yahoo
an hour ago
- Yahoo
'Haves and have-nots': The stock market thinks more consumers are reaching a breaking point
Consumer stocks are falling out of favor with US investors. While the benchmark S&P 500 (^GSPC) is trading at record highs and up nearly 10% year to date, the Consumer Discretionary (XLY) sector, often viewed as a bellwether for household health, is trailing far behind. The sector is up a modest 0.3% this year, making it second-worst-performing sector in the S&P 500 this year, ahead of only Health Care (XLV). High interest rates, shifting spending patterns, and economic uncertainty have weighed heavily on the group, which houses recognizable names like Nike (NKE), Target (TGT), and Home Depot (HD), as well as Magnificent Seven giants Tesla (TSLA) and Amazon (AMZN). "I still think that we have a bit of a K-shaped economy," Charles Schwab's Liz Ann Sonders told Yahoo Finance on Wednesday, pointing to the growing disparity between high- and low-income households. "You're seeing it in a lot of the travel-related stocks with concerns particularly around lower-end income consumers. ... It's the haves and have-nots, both at the consumer level and the stock level." This week's earnings added fresh weight to that thesis. Chipotle (CMG) shares sank double digits after the company reported a larger-than-expected drop in same-store sales and traffic, slashing its full-year outlook. Hilton (HLT) also fell after reporting a decline in US room revenue that weighed on sentiment, and Hasbro (HAS) slid after warning of continued promotional pressure and delaying product rollouts due to consumer price sensitivity. Eric Freedman, chief investment officer at US Bank Asset Management Group, said the recent moves reflect a bifurcated consumer landscape and that companies catering to more price-sensitive shoppers will need to work harder to capture demand. "This is a hyper-promotional environment to get people, especially lower-income and lower-middle-income consumers, to spend money," he told Yahoo Finance. "You have to be out with deals." Airlines, which are housed in the Industrials sector but have significant consumer exposure, have also suggested a softer spending environment in recent reports. American Airlines (AAL) stock fell after CEO Robert Isom echoed the weakness seen by peer Southwest (LUV), citing softer domestic travel demand last quarter. "Let's face it, the domestic network has been under stress because of the uncertainty in the economy and the reluctance of domestic passengers to get in the game," Isom said on Thursday. Meanwhile, companies catering to wealthier consumers have held up far better. JPMorgan (JPM) and American Express (AXP) both pointed to continued strength in consumer spending, particularly among higher-income households. Notably, their stocks, along with the broader Financials (XLF) sector, have outperformed since the April bottom. Bank of America data shows Industrials and Financials drew the largest inflows last week, underscoring investor appetite for cyclical names with strong earnings momentum. Consumer Discretionary, meanwhile, saw the biggest outflows. Still, with risk-on sentiment rippling through markets, from surging crypto bets to the return of the meme trade, even some of 2025's laggards could be poised for a second look. In a note to clients on Tuesday, Bespoke Investment Group flagged 21 S&P 500 stocks — including Consumer Discretionary names Tesla (TSLA), D.R. Horton (DHI), Caesars Entertainment (CZR), and Mohawk Industries (MHK) — that are down 30% or more from their 52-week highs, yet are trading above rising 50-day moving averages. That signals some beaten-down names may be starting to build short-term momentum, even as longer-term pressures persist. The outlook for consumers, however, remains fragile. "Consumer spending is down but not out," Oxford Economics deputy chief US economist Michael Pearce wrote following June's stronger-than-expected retail sales report last week. "The first half of the year was one to forget for most consumer-facing firms, and we expect there is a bit more pain to come before conditions begin to improve heading into 2026." Allie Canal is a Senior Reporter at Yahoo Finance. Follow her on X @allie_canal, LinkedIn, and email her at Sign in to access your portfolio
Yahoo
an hour ago
- Yahoo
'Haves and have-nots': The stock market thinks more consumers are reaching a breaking point
Consumer stocks are falling out of favor with US investors. While the benchmark S&P 500 (^GSPC) is trading at record highs and up nearly 10% year to date, the Consumer Discretionary (XLY) sector, often viewed as a bellwether for household health, is trailing far behind. The sector is up a modest 0.3% this year, making it second-worst-performing sector in the S&P 500 this year, ahead of only Health Care (XLV). High interest rates, shifting spending patterns, and economic uncertainty have weighed heavily on the group, which houses recognizable names like Nike (NKE), Target (TGT), and Home Depot (HD), as well as Magnificent Seven giants Tesla (TSLA) and Amazon (AMZN). "I still think that we have a bit of a K-shaped economy," Charles Schwab's Liz Ann Sonders told Yahoo Finance on Wednesday, pointing to the growing disparity between high- and low-income households. "You're seeing it in a lot of the travel-related stocks with concerns particularly around lower-end income consumers. ... It's the haves and have-nots, both at the consumer level and the stock level." This week's earnings added fresh weight to that thesis. Chipotle (CMG) shares sank double digits after the company reported a larger-than-expected drop in same-store sales and traffic, slashing its full-year outlook. Hilton (HLT) also fell after reporting a decline in US room revenue that weighed on sentiment, and Hasbro (HAS) slid after warning of continued promotional pressure and delaying product rollouts due to consumer price sensitivity. Eric Freedman, chief investment officer at US Bank Asset Management Group, said the recent moves reflect a bifurcated consumer landscape and that companies catering to more price-sensitive shoppers will need to work harder to capture demand. "This is a hyper-promotional environment to get people, especially lower-income and lower-middle-income consumers, to spend money," he told Yahoo Finance. "You have to be out with deals." Airlines, which are housed in the Industrials sector but have significant consumer exposure, have also suggested a softer spending environment in recent reports. American Airlines (AAL) stock fell after CEO Robert Isom echoed the weakness seen by peer Southwest (LUV), citing softer domestic travel demand last quarter. "Let's face it, the domestic network has been under stress because of the uncertainty in the economy and the reluctance of domestic passengers to get in the game," Isom said on Thursday. Meanwhile, companies catering to wealthier consumers have held up far better. JPMorgan (JPM) and American Express (AXP) both pointed to continued strength in consumer spending, particularly among higher-income households. Notably, their stocks, along with the broader Financials (XLF) sector, have outperformed since the April bottom. Bank of America data shows Industrials and Financials drew the largest inflows last week, underscoring investor appetite for cyclical names with strong earnings momentum. Consumer Discretionary, meanwhile, saw the biggest outflows. Still, with risk-on sentiment rippling through markets, from surging crypto bets to the return of the meme trade, even some of 2025's laggards could be poised for a second look. In a note to clients on Tuesday, Bespoke Investment Group flagged 21 S&P 500 stocks — including Consumer Discretionary names Tesla (TSLA), D.R. Horton (DHI), Caesars Entertainment (CZR), and Mohawk Industries (MHK) — that are down 30% or more from their 52-week highs, yet are trading above rising 50-day moving averages. That signals some beaten-down names may be starting to build short-term momentum, even as longer-term pressures persist. The outlook for consumers, however, remains fragile. "Consumer spending is down but not out," Oxford Economics deputy chief US economist Michael Pearce wrote following June's stronger-than-expected retail sales report last week. "The first half of the year was one to forget for most consumer-facing firms, and we expect there is a bit more pain to come before conditions begin to improve heading into 2026." Allie Canal is a Senior Reporter at Yahoo Finance. Follow her on X @allie_canal, LinkedIn, and email her at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
4 hours ago
- Business Insider
I moved to Portland at 22. Now that I'm 30, I've outgrown so much of what I loved about the city.
I was only supposed to be in Portland, Oregon, for four months. Eight years later, though, I'm still here. When I first moved to the city at 22, I knew little to nothing about Portland. Although I'd spent time elsewhere in the Pacific Northwest, I'd never even visited Oregon. I was offered an editorial internship, though, and saw this as my chance to leave home, have more freedom, and start my career. Any opportunity, especially one that would let me write, felt worth the leap. Then, in the blink of an eye, what was supposed to be a brief blip turned into nearly a decade. At first, Portland felt like the perfect place for me Portland's quiet green spaces, access to nature, quirky commitment to staying "weird," and community of small businesses made the city feel just right. I loved the food carts, walkability, and general pace and culture. I found a charming one-bedroom with a large living room and natural light in a quiet, walkable neighborhood near downtown, for a rent below market rate. My apartment gave me a home base, and with that came a deep sense of independence that felt imperative in my early 20s. As I adjusted to my new city, I created rituals that made Portland feel like home: grabbing a slice from Sizzle Pie, floating the river with friends in the summer, wandering through Powell's for books. Now that I'm 30, the city I once loved doesn't feel right anymore I work in journalism, and around the time I turned 30, I started to feel like this city might not be the best place for the career I've been building. Although Portland is home to powerhouse brands like Nike, Intel, and Adidas — and there are tons of small businesses and local media organizations — many of my dream roles seem to be based in cities like Los Angeles, New York, or Atlanta. Also, although there is a vibrant Black community here, the Portland metropolitan area is predominantly white. Some days I walk outside, and barely see anyone who looks like me. After growing up in a majority-white suburb, my neighborhood sometimes makes me feel like I never really left. I'm learning that as I grow older, what I'll need in a city might change — and that's OK I'm no longer 22, 24, or even 29. I've realized that what I need in my 30s might be different from what I needed several years ago. Portland will always be the first place I truly lived on my own, and it gave me room to grow, reflect, and find myself. I found so much joy in sunset hikes, aimless wanders through Powell's, afternoons at the Portland Art Museum, and live music in the parks. I'm grateful for my time here, but I'm ready for something new. Maybe I'll move to LA, where the creative community feels more accessible. Or I'll go back to London, a city I once lived in for college, where I felt so inspired by its pace and diverse mix of people. Although I'm excited to move to one of these cities whenever the right opportunity comes, I know that my next home might not be forever, either. One of the biggest lessons Portland has taught me is that different chapters call for different places — and even though Oregon no longer feels like home, I know I'd happily visit again and again, with gratitude.
