Skepticism about U.S. spending seen in consumer stocks

INVESTORS ARE SKEPTICAL that U.S. retail spending will exceed forecasts.  / BLOOMBERG FILE PHOTO/SCOTT EELLS
INVESTORS ARE SKEPTICAL that U.S. retail spending will exceed forecasts. / BLOOMBERG FILE PHOTO/SCOTT EELLS
NEW YORK - Investors are skeptical that U.S. retail spending will exceed forecasts this year, as some consumer-discretionary stock indexes have yet to reach new multi-year highs relative to their defensive counterparts. The Standard & Poor’s 500 GICS Consumer Discretionary Sector Index traded at the highest level since August 2007 on Jan. 25 compared with…

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