Sector Update: Consumer Stocks Advance Friday Afternoon

01:35 PM EDT, 10/02/2026 (MT Newswires) -- Consumer stocks were higher Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) fractionally higher and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1.2%. In corporate news, Tesla's (TSLA) shares rose 5% after it reported Q3 deliveries above Wall Street's expectations, even as analysts pointed to investor focus shifting away from traditional vehicle sales to AI projects. Nike (NKE) shares fell 5.2% after it forecast a fiscal 2027 revenue decline and unveiled a plan to transform its operating model. Paramount Skydance (PSKY) plans to change its name to Skydance Corp., effective Tuesday, and its Class B share ticker to "SKYD" from "PSKY," the company said Friday in a regulatory filing. The company previously announced its plan to transfer its Class B share listing from Nasdaq to the New York Stock Exchange, expected to be effective by Tuesday. The company's shares were up 0.2%.