Sector Sentiment · Consumer Discretionary (Discourse)

## What this measures

Mean `sentiment_score` across S&P 500 companies in the GICS Consumer Discretionary sector, trailing 90 days, one document per company per calendar quarter.

## Why it matters

Sector tone diverges long before sector earnings do. Read against the cross-sector mean (`discourse.sentiment`).

## How to read it

The score ranges from 0 to 1, where higher values indicate more positive management tone in Consumer Discretionary earnings calls and filings. A rise suggests executives are using more confident or optimistic language; a fall suggests caution or concern. Compare the sector score to the cross-sector mean to identify whether discretionary firms are more or less upbeat than the broader market.

## What it does not say

The score reflects only the tone of management language, not the substance of financial results, forward guidance, or operational performance. It does not measure actual consumer spending, sector earnings, or whether the tone proves accurate.

## Source

Palanor derives this signal from discourse analysis of S&P 500 Consumer Discretionary company documents. The sentiment scores are calculated internally and updated daily.

## Revision — 2026-09-26

Universe updated to current S&P 500 constituents (8 out, 3 in). Out: Builders FirstSource, Molson Coors and The Trade Desk, which left the index on 21 September 2026; Electronic Arts, which was taken private and left on 5 August 2026; and MongoDB, Cloudflare, Snowflake and Zoom, which were never members and had been included in error since May 2026. In: Bloom Energy, Everpure and Illumina, which joined on 21 September 2026. Membership now comes from a dated constituent list refreshed monthly. The corrected list applies from 26 September 2026. Readings before that date are unchanged.