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HSBC downgrades consumer discretionary sector

In this article:

As consumers show continued signs of weakness and tighter budgets, HSBC has downgraded the consumer discretionary sector (XLY) as a whole. HSBC Global Chief Investment Officer Willem Sels joins Catalysts to explain the reasoning behind this decision.

Sels observes that financially healthy consumers are "choosing to spend more on... services and more on... leisure" experiences rather than discretionary items. However, he emphasizes the importance of distinguishing between companies within the retail space: "you want companies that have the pricing power because of their positioning."

For more expert insight and the latest market action, click here to watch this full episode of Catalysts.

This post was written by Angel Smith

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