NEW YORK - Elevated U.S. interest rates are pressuring the U.S. retail sector, where shares of many companies have been dented by months of tight monetary policy while a select few have soared.Consumer Discretionary Distribution & Retail index is up nearly 14% this year, roughly keeping pace with the S&P 500’s year-to-date gain. Much of the sector’s strength, however, has been concentrated in a small group of stocks, including heavyweight Amazon.com , which are up over 20% this year.
Josh Cummings, a portfolio manager at Janus Henderson Investors, believes areas such as online shopping will continue to thrive even if interest rates stay elevated. "We're not terribly excited about the consumer sector overall, but we do think we are in the early innings of some of these growth stories," he said.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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