McDonalds to Drag Down Consumer Discretionary Sector (XLY)
Consumer Discretionary Select Sector SPDR ETF (NYSE: XLY) could move lower on the open as shares of McDonalds (NYSE: MCD) take a haircut in pre-market trading on Friday. MCD is down 2.8 percent following a weak report on May same store sales. Global comps rose just 3.3 percent in May vs. consensus of 5.2 percent. U.S comps rose 4.4 percent, Europe was up 2.9 percent and Asia/Pacific, Middle East and Africa down was 1.7 percent.
MCD has a 6.81 percent weighting in XLY. Other top holdings include Walt Disney (NYSE: DIS) and Comcast (NASDAQ: CMCSA). XLY is up 9.35 percent year-to-date, outpacing the S&P 500 ETF (NYSE: SPY) which is up 3.57 percent.
MCD has a 6.81 percent weighting in XLY. Other top holdings include Walt Disney (NYSE: DIS) and Comcast (NASDAQ: CMCSA). XLY is up 9.35 percent year-to-date, outpacing the S&P 500 ETF (NYSE: SPY) which is up 3.57 percent.
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