Hasbro Leads Consumer Discretionary Stock Gains in October

Hasbro led consumer discretionary stocks in October after its third-quarter results beat expectations and the company increased its full-year outlook, as the sector outpaced a nearly unchanged S&P 500.

Hasbro's revenue climbed 15% from a year earlier to $1.6 billion in its third-quarter results. Wizards of the Coast and Digital Gaming provided growth, while the company generated strong cash flow and Magic: The Gathering continued to advance.

Booking Holdings was among the sector's weakest performers. Fears that AI travel agents could challenge booking platforms and reduce advertising revenue also pressured Booking Holdings shares.

Apparel, retail, restaurant, fitness, entertainment and consumer services companies were among the sector's stronger groups. Resilient consumer spending and a solid labor market also supported the sector's performance.