The month of September should start with a business flurry as Congress is back in session. The happenings there will be among the market's main pre-occupations, but come Tuesday a host of investors are apt to take some added interest in the Barclays Global Consumer Staples Conference.
Barclays Global Consumer Staples Conference (Tuesday, September 5 - Thursday, September 7)
- Why it's important
- The S&P 500 consumer staples sector is the market's sixth largest sector with an 8.5% weighting and it contains a number of widely-held stocks by individual and institutional investors alike
- Many companies in the space have decent-sized international exposure, so they'll be able to offer good insight on how global economic conditions and the impact of foreign exchange are shaping their earnings expectations
- With Amazon's (AMZN) acquisition of Whole Foods, companies in the sector could find themselves at increased risk of losing pricing power. This conference could provide an opportunity to address any "Amazon effect" impacting, or expected to impact, the space.
- According to Barclays, presentations will be made by senior management teams across the global consumer staples universe -- packaged foods, beverages, cosmetics, household products and tobacco -- covering a range of market capitalizations and geographies
- The consumer staples sector has underperformed the market this year with a 5.8% gain versus a 10.6% gain for the S&P 500. Commentary out of the conference could help close that performance gap or widen it.
- A closer look
- What's in play?
- Consumer Staples Select Sector SPDR Fund (XLP)
- Vanguard Consumer Staples ETF (VDC)
- iShares U.S. Consumer Goods ETF (IYK)
- Columbia Emerging Markets Consumer ETF (ECON)
- iShares Global Consumer Staples ETF (KXI)