ONON - Consumer discretionary stocks gain as investors dabble with beat-up names

Consumer discretionary stocks moved higher on Tuesday as some of the worst-case economic fears slowly starting to recede.

Economists think some macro data will be improving over the next few months and current inflation forecasts show a moderation. Expectations of more Federal Reserve interest rate hikes and a 2023 recession are also said to be already baked into share prices.

The hodge-podge of consumer discretionary gainers in early Tuesday trading included Farfetch ( FTCH ) +13.67% , Rent the Runway ( NASDAQ: RENT ) +9.40% , Honest Company ( HNST ) +7.42% , The RealReal ( REAL ) +6.46% , F45 Holdings ( FXLV ) +6.05% , Nautilus ( NLS ) +5.53% , Party City ( PRTY ) +5.30% , Gap ( GPS ) +5.08% , Express ( EXPR ) +4.88% , Stitch Fix ( SFIX ) +3.71% , On Holding AG ( ONON ) +3.67% , Dillard's ( DDS ) +3.63% , and Allbirds ( BIRD ) +3.44% .

Also of note, Under Armour ( UAA ) is up 3.45% and Nike ( NKE ) is the third leading gainer in the Dow Jones Industrial Average with a 2.65% advance. Carnival ( CCL ) topped the S&P 500 Index in early trading with a 4.72% rise.

Read the update on broad stock market.

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