🟢 XLY is trading 3% up today on Amazon’s earnings beat and strong AWS growth

XLY is trading 3% up today following a major upside earnings surprise from Amazon, the ETF’s largest holding with a weight exceeding 20%.

• Amazon’s strong Q2 results, highlighted by 37% growth in its AWS cloud unit and a double-digit share price jump, are lifting the entire consumer discretionary complex.
• The sector move coincides with a broader tech-led rebound in U.S. equities fueled by cooling PCE inflation data and the Federal Reserve’s decision to hold interest rates steady.
• Continued strength in AI-related cloud spending from firms like Microsoft has further improved overall risk appetite for growth and cyclical sectors.