W - Relax -- These 2 Furniture Stocks Are Looking More Comfortable
2023-06-07 09:01:32 ET
Wednesday morning brought more cautious optimism into the stock market, as Wall Street investors have generally been increasingly comfortable with the way the U.S. economy is behaving. Despite multiple calls for a recession, most measures of economic growth have held firm thus far. That had stock index futures rising slightly early Wednesday, maintaining the considerable upward momentum that has taken key benchmarks to their best levels in a year.
Of particular note, consumer discretionary stocks appear to be taking up the slack after performing poorly during much of 2022. If people feel more comfortable spending on discretionary purchases, it indicates their confidence that their personal financial prospects are more secure. That sentiment was a vital part of why shares of Wayfair (NYSE: W) and Lovesac (NASDAQ: LOVE) were on the rise early Wednesday. Here are the details.
Shares of Wayfair rose more than 5% in premarket trading on Wednesday morning. The online home furnishings company offered investors a business update that took a positive tack on how things are going.
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Relax -- These 2 Furniture Stocks Are Looking More Comfortable