The S&P 500 consumer discretionary and staples sectors rose sharply along with the S&P 500 retail index.
Investors have also been optimistic the Federal Reserve can achieve a soft landing for the economy as it tightens policy and raises interest rates to reduce decades-high inflation. And today’s move in discretionary names is positive for the market,” said Quincy Krosby, chief global strategist for LPL Financial in Charlotte, North Carolina.
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