Consumer discretionary sector rallies to a record high
NEW YORK (MarketWatch) -- Data out Friday showing more jobs being created, and higher wages, have investors betting on increased consumer spending, as the SPDR Consumer Discretionary Select Sector ETF rallies to a second-straight all-time high. The ETF has gained 4.5% so far this week, which would be the biggest weekly gain since the week ending Jan. 4, 2013. The closed at a record high of $73.05 on Thursday, above the previous record of $72.78 hit on Dec. 29, and rose further to a high of $73.30 in intraday trade Friday. The gains were boosted by the 12% weekly surge Walt Disney's stock , the ETF's most heavily-weighted component, after the company reported better-than-expected results earlier in the week. Among some other sector heavyweights, Comcast climbed 7.5% this week, General Motors ran up 11%, Amazon advanced 5% and Home Depot gained 4.4%.