Consumer stocks were lower Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.6%.
In corporate news, Costco Wholesale's (COST) fiscal Q3 revenue topped market estimates buoyed by its gas business amid high fuel prices, but the warehouse chain's earnings fell short of expectations. Its shares fell 4.3%.
Tech stocks were mixed Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 2.6%.The Philadelphia Semiconductor index was 0.1% higher.In corporate news, Dell Technologies (DELL) shares jumped past 28% after it reported overnight fiscal Q1 financial results that topped analyst estimates and issued higher-than-expected guidance for fiscal Q2 and the full year.
President Donald Trump said Friday on Truth Social that he is meeting now in the Situation Room to make a final determination on the memorandum of understanding between the US and Iran.