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Price: $88.29, Change: $+0.15, Percent Change: +0.17%
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Sectors
Sector Update: Consumer Stocks Decline Wednesday Afternoon
Consumer stocks traded lower Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) declining 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.3%.In corporate news, Starbucks' (SBUX) fiscal Q2 financial results exceeded Wall Street's views, while the coffee giant raised its full-year outlook on the back of momentum in its turnaround efforts. Its shares jumped past 8%.Wingstop (WING) reduced its 2026 domestic same-store sales outlook and reported weaker-than-expected Q1 revenue. Its shares fell 4.4%.Etsy's (ETSY) Q1 revenue rose more than Wall Street's expectations, helping the online marketplace swing to earnings. Etsy shares climbed 8.6%.
$ETSY$SBUX$WING
Sectors
Sector Update: Health Care Stocks Softer in Afternoon Trading
Health care stocks declined Wednesday afternoon, with the NYSE Health Care Index down 0.8% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.9%.The iShares Biotechnology ETF (IBB) fell 2%.In corporate news, AbbVie (ABBV) raised its full-year outlook on Wednesday as the biopharmaceutical company recorded better-than-expected Q1 results, driven by robust revenue growth from its Skyrizi and Rinvoq immunology drugs. Its shares rose 3.4%.AstraZeneca (AZN) will invest 300 million pounds ($404.9 million) in the UK, focusing on its sites in Cambridge and Macclesfield, in a move aimed at boosting the country's life sciences sector, Bloomberg reported. AstraZeneca shares were down 1.2%.KalVista Pharmaceuticals (KALV) and Chiesi Group said Wednesday they have signed an agreement through which Chiesi will buy KalVista for $27 per share in cash, or about $1.9 billion. KalVista shares surged nearly 39%.
$ABBV$AZN$KALV
Sectors
Sector Update: Energy
Energy stocks were higher Wednesday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each rising about 2%.The Philadelphia Oil Service Sector Index was increasing 0.5%, and the Dow Jones US Utilities Index was shedding 0.5%.Oil prices rallied Wednesday after US President Donald Trump reportedly rejected an Iranian proposal to lift the naval blockade. Trump told Axios on Wednesday he will maintain the US naval blockade of Iranian ports until Tehran agrees to a nuclear deal. Iran wanted the Strait of Hormuz opened before the two sides could sit down to discuss uranium enrichment at a later stage.Front-month West Texas Intermediate crude oil jumped 7.3% to $107.18 a barrel, and the global benchmark Brent crude contract climbed 7.4% to $119.47 a barrel. Henry Hub natural gas futures fell 2.2% to $2.63 per 1 million BTU.In corporate news, Phillips 66 (PSX) shares jumped past 6%. The firm reported Q1 adjusted earnings Wednesday of $0.49 per diluted share, swinging from a loss of $0.90 a share a year ago. Analysts polled by FactSet expected a loss of $0.54 a share. Phillips 66 also raised its annualized quarterly dividend by 7%.
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