Consumer Discretionary

With no new news from abroad last night, Wall Street jumped into holiday mode as jobless numbers and retailer results reversed Tuesday’s risk aversion. Dow up 151.

Automotive Holdings offered a solid trading update at its AGM last week and brokers see value on offer in the stock.

Myer may have disappointed the market with its quarterly sales result but stockbrokers continue to see upside in the stock at current levels.

It was disclosed last night that Molson Coors is selling its shares in Foster’s.

The AiG/CBA Performance of Services Index rose to expansionary levels in October for the first time since April, an outcome seem as positive for the Australian consumer spending.

In a mixed result for Wesfarmers, impacted by bad weather, the ongoing Coles turnaround story was the major highlight.

There were few surprises in the Woolworths quarterly sales result, so opinion remains divided on the company’s growth outlook.

CBA’s Business Sales Indicator suggests Australian consumer spending is slowly trending higher, while research by Datamonitor suggests spending habits are changing.

Price deflation and falling sales growth has JB Hi-Fi hoping Santa will be busy enough to save FY11.

Resilient performance, an attractive dividend yield and scope for modest growth makes McPherson’s attractive according to stockbroker Moelis.