Charlie Bilello Says Iran War Inflation Is 'Rewarding Big Oil,' Flags a 56% Spread Between XLE and XLY

Charlie Bilello, Chief Market Strategist at Creative Planning, highlighted a significant 56% performance gap between the S&P 500's energy sector (XLE) and consumer discretionary sector (XLY), with XLE up over 50% year-to-date while XLY has declined by 5.4%. He noted that war-driven inflation is benefiting energy stocks but negatively impacting consumers, as prices for various commodities have surged significantly since the onset of the Iran conflict. For instance, European natural gas prices have increased by 163%, and gasoline prices are up 46%, with the national average now at $4.34 per gallon.