Amplify Online Retail ETF

IBUY

Market cap $110M

Despite obstinate inflation and higher-for-longer interest rates, consumers continue to open their wallets and spend. But how they spend is another story.

According to the Census Bureau's Advance Retail Sales Report, consumer spending rose for a fifth straight month in June. Headline sales were up 0.2% as expected, marking a slowdown from May's 1.0% increase.

The LSEG Retail/Restaurant Index reported Q1 2026 earnings growth of 27.2%. Retail earnings in the first quarter of 2026 received a significant boost from a historic tax refund season, reinforcing consumer spending at a time when the labor market remained resilient. Q2 2026 earnings are currently expected to mark the weakest growth rate of the year, with consensus forecasts calling for a gradual improvement during the second half of the year.

The Amplify Online Retail ETF (IBUY) has rallied over the past month, signaling a robust appetite for online consumer discretionary spending despite persistent macroeconomic headwinds. Outsized gains in specialized healthcare retail and online travel names have driven performance for IBUY's underlying index.

One of the biggest online sales of the year is currently in full swing. Of course, we are talking about Amazon's Prime Day 2026, which runs from June 23 to June 26.

We review the Federal Reserve's latest interest rate decision under its new leadership and look at the surprising strength of the American consumer. We also dive into a historic surge in investor leverage and the geopolitical headlines that ultimately steered major stock indices through a volatile trading week.

According to the Census Bureau's Advance Retail Sales Report, consumer spending climbed for the fourth straight month in May. Headline sales rose 0.9%, almost double the projected 0.5% growth and marking an acceleration from April's 0.4% rise.

The consumer is still spending, but with a higher level of caution. Inflation remains a persistent pressure point, particularly for lower- and middle-income households.

The most revealing number in the latest spate of retail data may not be how much consumers in the United States spent. It may be that 16.9% of all retail sales now happen online.

The U.S. economic landscape in April was defined by a significant rebound in inflation across both consumer and wholesale sectors, complicating the path for future monetary policy. While retail sales figures indicated continued consumer activity, the data suggests much of this growth was driven by rising fuel prices rather than increased volume.