U.S. equities and stock exchange traded funds were flat Thursday as traders soured on the outlook for brick-and-mortar shops.
The S&P 500 Index, along with related funds including the SPDR S&P 500 ETF (NYSEARCA:SPY), iShares Core S&P 500 ETF (NYSEARCA:IVV) and Vanguard 500 Index (NYSEARCA:VOO), were relatively unchanged Thursday.
Weighing on the markets, consumer discretionary companies in the S&P 500 fell 0.3%.
While Sears (NasdaqGS:SHLD) shares jumped 9.1% Thursday after the retailer said it would sell its Kenmore home appliances on Amazon (NasdaqGS:AMZN) and integrate the brand’s smart gadgets with the e-commerce giant’s Alexa assistant.
However, the deal was a blow to competing brick-and-mortar shops as traders interpreted the sale as part of an ongoing shift toward online or greater e-commerce in an increasingly digital age.