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Quarter-End Insights

Consumer Cyclical: Regulatory and Economic Uncertainty Leads to Opportunity

For patient investors, an attractive industry is travel and leisure.

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The Morningstar U.S. Consumer Cyclical Index slipped 3% quarter to date, underperforming the broader U.S. equity market's 1% gain (Exhibit 1). We attribute the sector's relative struggles to increased concerns about tariffs and amplified volatility in international markets stemming from events such as Brexit.


Returns in the sector slightly trail the market. - source: Morningstar

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Dan Wasiolek does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.