Market and consumer sector’s performance last week
With the start of the third quarter earnings season, the S&P 500 Index (SPY) (SPX-INDEX) finished the week ending October 6, 2017, with positive growth of 1.2%. The consumer staples sector fell 0.29% last week led by Costco Wholesale’s (COST) shares, which fell after a dip in its fiscal 4Q17 gross margin.
Other events that drove the market last week
September jobs data released by the U.S. Bureau of Labor Statistics on October 6 also drove the market last week. Impacted by Hurricane Harvey and Hurricane Irma, non-farm payrolls fell by 33,000 in September—way below economists’ estimates of an addition of 85,000 jobs. On the brighter side, the unemployment rate fell to 4.2% from 4.4% and wages rose 0.5% to an average of $26.55 an hour.
Consumer sector–based ETFs were average in the week ending October 6. The Consumer Discretionary Select Sector SPDR Fund (XLY) rose 1.8% last week. The SPDR S&P Retail ETF (XRT) fell 0.29%, while the Consumer Staples Select Sector SPDR ETF (XLP) fell 0.31%, respectively.
As of October 6, the S&P 500 Index (13.9%) has outperformed the S&P 500 Consumer Discretionary Index (12.7%) and the S&P 500 Consumer Staples Index (4.1%) on a year-to-date basis.