The consumer discretionary sector involves businesses which cater to individuals after their fiscal essentials for living have been met. Businesses which fall into this sector are placed into the following groups: automobiles and components, consumer durables and apparel, hotels, restaurants and leisure, media and retail. Because these industries depend on consumer confidence and extraneous spending, they may be more volatile.

Compared to essentials which tend to remain more steady, these non-essentials of consumer discretionary sector can reap big financial rewards during an economic upswing. In contrast, due to the cyclical nature of the market, these stocks can also lose big if the market sours. Well known discretionary stocks include Walt Disney, McDonald's, DirecTV, Best Buy, Gap and Nike to name just a few.

Find out what you can do to invest in the consumer discretionary sector by:

1. See breakdowns of the consumer discretionary sector.

2. Find information on funds in the consumer discretionary sector.

3. Invest in the consumer discretionary sector.

Action Steps
The best contacts and resources to help you get it done

Get help with consumer discretionary sector data

Because of the volatility, understand the potential risks of the sector. Get online advice from a consumer discretionary sector consultant. See fiscal performance breakdowns of the sector and look at individual stocks within the group.

I recommend: Fidelity Investments breaks down the consumer discretionary sector including charts and graphs to see trending, compare portions of the sector and get commentary about the sector. iStockAnalyst picks apart the components of the sector and looks at individual stocks within the sector to get a look at the performance.

Find consumer discretionary sector information

Get ready to invest in the consumer discretionary sector by looking at funds 100% invested in the group. Some funds invest in strictly domestic funds while others include foreign companies into their mix. In addition, there's an array of stock within the sector to keep the portfolio more balanced.

I recommend: Take a look at State Street Global Advisors for a fund strictly in the discretionary sector. Find details about the SPDR S&P International Consumer Discretionary Sector ETF (IPD) including fund pricing, trends and holdings. Get consumer discretionary sector advice from Marketwatch.com. Find information on Consumer Discretionary Select Sector SPDR Fund (XLY).

Get involved in consumer discretionary sector investing

After thorough research, choose stocks and funds from the consumer discretionary sector. Get information about individual stocks or combined funds in the consumer discretionary sector and invest online.

I recommend: Look to E*Trade's ClearStation for information about consumer discretionary sector stocks and funds. Sign up to buy and trade stocks and funds with the click of a mouse. Research consumer discretionary funds with Scottrade. Get the information you need about each of the funds and buy online.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Rather than jumping into the stock market, you can get a trial investment account for free to try out your consumer discretionary sector stock choices.