Sector Update: Consumer Stocks Higher Late Afternoon
MT newswire2026/10/06 19:5603:56 PM EDT, 10/06/2026 (MT Newswires) -- Consumer stocks advanced late Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1.2%. Redbook US same-store sales rose by 8.6% from a year earlier in the week ended Oct. 3 after an 8.2% year-over-year increase in the previous week. "Toward the end of the week, business increased in certain areas of the country as temperatures dropped," Redbook noted. Also, retailers ramped up discounts to compete with Amazon Big Deal Days that are taking place Oct. 6-7. In corporate news, Lamb Weston (LW) raised its full-year outlook on Tuesday as the frozen potato products supplier's North America operations remained a bright spot amid challenges elsewhere, driving a fiscal Q1 beat. Lamb Weston shares jumped past 7%. Uber (UBER) agreed to acquire US-based catering platform ezCater in a $2.3 billion cash deal, as the ride-hailing giant looks to expand its food delivery business to more customers. Uber shares were down 0.9%. McDonald's (MCD) franchisees are facing at least $800,000 per location in upgrade costs under the company's new multiyear plan, Bloomberg reported. Some franchise owners are balking the cost of the new initiative and have raised concerns about the expense and lack of details in recent meetings, the report said. McDonald's shares were fractionally lower. Paramount Skydance (PSKY) has completed its acquisition of Warner Bros. Discovery (WBD), creating a combined company called Skydance, the new entity said Tuesday. Under the terms of the deal, Warner Bros. shareholders received $31.01666668 in cash per share, and Warner Bros. shares ceased trading on Nasdaq on Tuesday, the company said. Skydance Class B shares started trading Tuesday on the New York Stock Exchange under the ticker SKYD. Skydance shares were down 3.8%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
BUZZ - Tobacco and alcohol stocks lead gains in the consumer staples sector
On October 8, Thursday, Philip Morris International (PM.N) became the top gainer in the S&P 500 Consumer Staples sector (.SPLRCS), followed by alcoholic beverage company Constellation Brands (STZ.N) and Altria Group (MO.N), both ranking among the day's biggest gainers. Shares of Philip Morris International (PM), a supplier of cigarettes and smoke-free nicotine products, rose about 4% to $200.89, set for a fourth consecutive session of gains and marking the largest single-day increase since July 16. Marlboro cigarette maker Altria gained 2.9% to $71.36. Earlier, British peer Imperial Brands (IMB.L) said it expects to meet its full-year guidance and announced a £1.5 billions ($1.98 billions) share buyback plan, as robust growth in tobacco alternatives helped offset declining cigarette sales. STZ, which produces beer, wine, and spirits, rose over 3% to $122.35 on the second trading day after releasing its quarterly report, despite several brokerages lowering their price targets. JPMorgan, however, raised its target from $133 to $136. Cetera Chief Investment Officer Gene Goldman noted on Thursday that there is “a rotation from growth stocks to defensive stocks” in the market, adding that “rising yields and wider credit spreads are putting pressure on AI and growth stocks.” He also pointed out that valuations in the sector are improving. Over the past three months, the sector has underperformed the broader S&P 500, falling 1% versus the benchmark’s 3.9% rise. Among the five S&P sectors that did not decline on Thursday, the Consumer Staples Index posted the second-largest gain, up 1.6%.
Morgan Stanley senior bond investor turns bullish on US Treasuries for the first time in ten years
US Stock Movement | SuperX AI Technology (SUPX.US) once fell more than 2.5%, hitting an intraday low of $6.46
SuperX AI Technology's stock price declined, falling more than 2.5% at one point.
Crypto prices
More
