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| The daily necessities of the American people - as represented by the SPDR Consumer Staples ETF (XLP). We were surprised to see that no brewers or distillers are among the top ten holdings of the fund. Walmart, however, at almost 9% of the fund, is probably a good proxy for American booze consumption. The chart now bumps up against the broken trend from last summer. |
Smokes, Soap, Drugs, and Junk Food
