Over the last couple of days, the disconnect between economic news and the stock market has been so confusing you would be forgiven if you are surprised Consumer Discretionary stocks are leading the charge today.

We began the session with the MasterCard Spending Pulse report showing spending up the most in six years, as Americans plowed $850 billion into holiday spending.

• Online +19.1%
• Apparel +16.5%
• Department Stores +7%

Amazon (AMZN) is doing its part, but its brick and mortar names carrying the load:

• Kohl’s (KSS)
• Dollar General (DG)
• Macy’s (M)
• Ross Stores (ROST)
• Dollar Tree (DLTR)

Energy (XLE) is higher as West Texas Intermediate has popped in part to speculation of a potential emergency OPEC meeting. 

Then there’s Communication Services (XLC) led by momentum darlings: Facebook (FB), Twitter (TWTR), Take Two (TTWO), Netflix (NFLX) and Google/Alphabet (GOOG).

I like this action because an early rally attempt faded after the Dow rallied 280 points and selling began gaining momentum to the downside.   It was a perfect chance for the market to dive again but an interesting thing happened.  Buyers began to materialize.

I’m still worried about the banks, especially Goldman Sachs (GS), but like what I’m seeing right now.