Investors eye consumer discretionary stocks as US reopens

Honours roll: Distribution supervisor at Coca-Cola Femsa in Brazil, Humberto Lima, ringing the closing bell on Friday at the New York Stock Exchange. The bourse honoured some of the people who worked during the Covid-19 pandemic through their #gratitude campaign. — AP

NEW YORK: Investors are taking a closer look at the market’s consumer discretionary companies as a reopening US economy fuels hopes of a turnaround for some of the sector’s hardest-hit names.

Many companies in the sector have been battered by the country-wide coronavirus-fuelled lockdowns that have weighed on growth and damaged retail spending over the last several months, though the stocks of a few, like Amazon, have soared.