Consumer Discretionary ETFs in Focus as US Readies to Reopen
Zacks Investment Research | May 07, 2020 03:18AM ET
The Wall Street has been rallying since the start of this week as investors are upbeat about the reopening of the U.S. economy in phases. In this regard, Eric Winograd, senior economist for fixed income at AllianceBernstein (NYSE:AB) said “markets are increasingly looking toward this reopening and the gradual relaxation to some of the rules the lead people start economic activity again,” per a CNBC article.
The coronavirus outbreak has largely impacted the consumer discretionary sector, which attracts a major portion of consumer spending. Major retailers, restaurants and hotels in the United States had to shut down operations domestically and abroad. The reopening of the U.S. states has definitely come as a ray of hope for players in the sector.
Stores Reopening: A Silver Lining
A number of restaurants and retailers have started to reopen as restrictions are being relaxed in the United States. Starbucks Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
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