112.65 0.00 (0.00%)
After hours: 4:00PM EDT
|Bid||112.27 x 1800|
|Ask||112.69 x 1400|
|Day's Range||112.57 - 113.30|
|52 Week Range||87.89 - 113.31|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.14%|
As we’ve discussed previously in this series, the escalating trade tensions haven’t been able to support gold much in 2018 mainly due to the simultaneous appreciation in the US dollar (USDU), which has capped gold’s gains. While the index for current conditions came in as expected, the sentiment over future business conditions and income prospects declined. Investors should note that consumer spending (XLY) constitutes more than two-thirds of the US economy.
During the week ended July 6, 2018, the broader market largely traded on a positive note, and the S&P 500 benchmark rose by 1.5%. In the last couple of weeks, trade tensions between the US and trading partners including China, some European countries, and Canada have escalated. Uncertainties about the ongoing auto tariff probe under section 232 are haunting auto investors. These rising trade tensions could be one of the reasons why auto stocks underperformed the broader market last week. Let’s take a closer look.
If we were to rate the sectors that investors and Wall Street were down on the most in the first half of 2018, consumer staples would surely find a high rank among them.