Major Wall Street firm sees a breakout in luxury stocks — and lists three reasons why ETFs are a great way to play it

SPDR Euro Stoxx 50 ETF

is considered a broad European ETF. The ETF is up about 20% so far this year, with a price increase of nearly 1.2% since the beginning of January. While the fund's top holding is LVMH at 7.29%, according to the company's website, Bartolini contends the shift applies beyond luxury stocks and to lower-end consumer stocks.— which is up almost 30% this year — as another one of his fund's major holdings. It also shows FEZ allocating more than 20% to consumer discretionary — 2.5% higher than its second-most allocated industry.

"That's on a broad-based level," he said. "So, basically, buy Europe and sell U.S. has been some of the trade that we have seen."

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wall Street investors recession bet may cause bond, stock market crashInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Stock market today: Meta's surge fuels big Wall Street rallyWall Street rallied to its best day since January after Meta Platforms became the latest Big Tech company to blow past profit forecasts.
Source: KPRC2 - 🏆 80. / 68 Read more »

Stock Market Today: Wall Street Rises to Cap a Winning AprilWall Street closed out a winning April with gains Friday as more companies say their profits at the start of the year weren’t as bad as expected.
Source: TucsonStar - 🏆 339. / 59 Read more »

The most heavily shorted stocks on Wall Street include three electric vehicle-related namesThese increases in short interest come as all three stocks have taken a beating this year.
Source: CNBC - 🏆 12. / 72 Read more »