Sonos, Inc. SONO

As the Q2 earnings season wraps, let’s dig into this quarter’s best and worst performers in the consumer discretionary industry, including Sonos (NASDAQ:SONO) and its peers.

A number of stocks fell in the afternoon session after rising Treasury yields and higher interest rates intensified worries over household finances and discretionary consumption, creating headwind conditions for consumer-facing companies. According to Reuters, as borrowing costs on mortgages, auto loans, and credit cards climb, household budgets are increasingly squeezed, encouraging consumers to prioritize saving and basic necessities over non-essential purchases. In addition, recent economic d