Meanwhile, revenues for S&P 500 companies have dipped 4.6%, with 85% of companies having reported. Weighing on the industry, soda and cereal revenue in the U.S. contracted about 2% a year over the past two years, according to Euromonitor International. [Changing Appetites Hurt Staples Stocks]
“Even conservative yet higher-yielding consumer staples stocks such as tobacco and food felt the bear’s presence. The shift toward financials and away from income producers was clear. And that is the market’s best argument that the Fed will raise rates next month, despite what other central banks may have planned,” reports Michael Kahn for Barron’s. http://www.barrons.com/articles/with-rate-hike-looming-here-are-winners-losers-1447100569
Consumer Staples Select Sector SPDR
