Online retail stocks outperform as investors bank on resilient consumer spending
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Online retail stocks broke sharply higher on Monday as investors continue to weigh the inflation, recession, inverted yield curve and war concerns against consumer spending data that is still showing strong in many channels.
Deutsche Bank weighed in on why consumers may be still spending despite the scare headlines.
"There has been plenty ink spilled on the recessionary risk signal embedded within the yield curve," noted analyst Jim Reid.
"Meanwhile, the narrative is that healthy sector balance sheets, including a stockpile of excess consumer savings, will foam the runway of any slowdown. At the same time, financial conditions have now eased to pre-invasion levels despite the implied market pricing of 2022 Fed hikes hitting their highest level. One wonders if strong balance sheets have made consumers less exposed to credit conditions, attenuating the link between higher policy rates and slowing demand."
Notable gainers included Carvana (CVNA
+10.3%), Chewy (CHWY
+11.8%), Poshmark (POSH
+11.2%), Farfetch (FTCH
+9.4%), Newegg Commerce (NEGG
+13.1%), Etsy (ETSY
+8.5%), Wayfair (W
+4.8%), Revolve Group (RVLV
+5.6%), ThredUp (NASDAQ:TDUP
+7.4%), a.k.a. Brands (NYSE:AKA
+4.8%) and Blue Apron (NYSE:APRN
+5.9%).
Amazon (AMZN) rose 1.90% despite some buzz over the unionization hit to profitability. 
Meanwhile, eBay (NASDAQ:EBAY
-1.6%) was an underperformer in comparison to e-commerce peers.
See a list of the top rated consumer discretionary stocks.