NEW YORK; Elevated US interest rates are pressuring the US retail sector, where shares of many companies have been dented by months of tight monetary policy while a select few have soared.
The S&P 500 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 is up nearly 21% this year.
