Consumer Discretionary Sector Rallies To a Record High

MarketWatch Pulse

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%.

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