No surprise: consumer discretionary companies are highly dependent on consumers having jobs and income. As such, consumer discretionary stocks, as measured by the XLY ETF, fell while new unemployment insurance claims spiked. And, as new unemployment claims have come back to earth, the XLY has jumped. Eventually, for consumer discretionary companies to thrive we’ll actual need to see real gains from consumers — gains in jobs and income, neither of which we’re seeing now.
Get This Delivered To Your Inbox
You can get this dropped in your inbox every afternoon as The Chart Of The Day. It’s a simple. It’s convenient. It’s free. All we need is your email address (though we’d love your name and state, too, if you’re willing to share it). Sign up below!
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.