The consumer discretionary sector declined 1.50% amid concerns over corporate earnings and ahead of key economic data releases. Deckers Outdoor (DECK) shares fell sharply in pre-market trading after the company reported disappointing revenue and lowered its sales forecast, citing a more promotional retail environment and price-conscious consumers. This news weighed on the broader sector, which is also bracing for the release of flash U.S. PMI and University of Michigan Consumer Sentiment data, both of which are significant indicators of consumer health. The move also comes amidst a broader market rotation towards more defensive sectors.