The consumer discretionary sector gained ground after the midterm elections, helped by declines in oil prices, inflation expectations and the US dollar. The XLY ETF jumped 4.5% to $122.56 and moved back above its 21-, 50- and 200-day moving averages. Lennar could benefit from lower mortgage rates despite reporting fiscal third-quarter earnings per share below expectations. SharkNinja posted 21% revenue growth and a 46% increase in adjusted EBITDA in the third quarter, while Amazon’s operating income rose 61% to $28.1 billion despite concerns about its planned capital spending.
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