The consumer discretionary sector got a nice boost in the wake of tame consumer inflation data, amid hopes that lower inflation would help boost spending. The Consumer Price Index rose 0.1% in May to match expectations, while the annual gain fell to 4% from 4.9%, to mark the lowest level since March 2021. The Consumer Discretionary Select Sector SPDR exchange-traded fund XLY rose 0.6% toward a nine-month high ahead of the open, after being up about 0.3% just before the data was released. Among the ETF’s more-active components, Tesla Inc.’s stockTSLA gain increased to 1.3% after the data from 0.8%; Carnival Corp. shares CCL rallied 3.3%, after being up 2.4% pre-data; Amazon.com Inc.’s stock AMZN advanced 1.5%, after being up 0.7% before CPI; and Ford Motor Co.’s stock F rose 0.6%, after being little changed pre-data. Meanwhile, futures ES00 for the S&P 500 SPX rose 0.3% after the data.
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