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US Consumer Sentiment Weakens in July, XLY Down 0.18%

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Jul. 20 2015, Published 12:04 p.m. ET

US consumer sentiment has been weakening in July

Consumer sentiment had been rising in the United States. The Consumer Discretionary Select Sector SPDR ETF (XLY) had gained about 3.27% so far this month (up to July 17, 2015). It has gained a good 9.70% YTD (year-to-date). In contrast, the broad market–tracking SPDR S&P 500 ETF (SPY) has returned 2.53% so far in this month. So far, it returned 3.37% this year.

However, XLY was down 0.18% on July 17’s close. A preliminary estimate of a University of Michigan report indicated that consumer sentiment has weakened in July.

Consumer sector companies like Mattel (MAT), Coca-Cola (KO), Coach (COH), and Proctor & Gamble (PG) were down on Friday. Mattel lost 3.34% and Coca-Cola shed 0.55%. Coach and Proctor & Gamble were down 1.39% and 0.07%, respectively, on July 17.

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Consumer sentiment may lose 2.8 points in July

The Consumer Sentiment Index is a monthly index that’s jointly released by the ISR (Institute for Social Research) of the University of Michigan and Thomson Reuters. The preliminary estimate for July came out on Friday, July 17. The composite index stood at 93.3 index points in July—a 2.8-point fall from June’s 96.1 points. US consumers saw their personal financial projections weaken in July.

The current conditions component was down to 106 points—a 2.9-point dip from June. The index’s expectations component also recorded a 2.6 points dip to 85.2. The overall report revealed weaker consumer sentiment in July 2015.

Now, we’ll take a look at the Eurozone, where the Greek saga continues to increase market volatility and affect the returns of European equity and bond investors.

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