Sector Update: Consumer Stocks Rise Late Afternoon
MT newswire2026/10/08 19:5003:50 PM EDT, 10/08/2026 (MT Newswires) -- Consumer stocks rose late Thursday afternoon with the State Street Consumer Staples Select Sector SPDR ETF (XLP) adding 2.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gaining 0.3%. In corporate news, Walmart (WMT) opened a 900,000-square-foot fulfillment center in Stockton, California, that will create more than 1,000 jobs and expand the company's ability to provide faster shipping to customers on the West Coast. The shares climbed 2.5%. Walt Disney (DIS) has pitched Skydance's (SKYD) Paramount Pictures and Comcast's (CMCSA) Universal Pictures about using its new brand for a large-screen movie format instead of Imax (IMAX) to market their films, Bloomberg reported. Disney shares rose 1.9%. Starbucks (SBUX) has explored a takeover of Chipotle Mexican Grill (CMG) and has worked with advisers in recent months on a potential proposal, the Financial Times reported. The current status of Starbucks' plans and whether it has submitted a formal offer to Chipotle could not be determined, the report said. Chipotle shares jumped 7.2%, and Starbucks fell 1.1%. Spotify Technology (SPOT) renewed its deal with podcaster Joe Rogan on similar terms to the previous deal, which allowed "The Joe Rogan Experience" to be distributed broadly and for an estimated earnout of $250 million, the Wall Street Journal reported. Spotify shares rose 2.3%.
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.
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