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Sector Update: Consumer

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Consumer stocks advanced Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.1%.

In corporate news, Yum Brands (YUM) shares rose 2.2% after it said it has agreed to sell Pizza Hut in two deals valued at about $2.7 billion. Private equity firm LongRange Capital will acquire Pizza Hut outside China for about $1.5 billion, while Yum China (YUMC) will purchase the Chinese business for $1.2 billion, Yum Brands said Tuesday. Yum China shares were down 1.5%.

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