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Sector Update: Consumer

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Consumer stocks were higher late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 1.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 1.7%.

In corporate news, Hertz Global (HTZ) said Wednesday in a regulatory filing that "current unexpected softness" in the market for used cars has caused it to realize losses on the sale of vehicles in May, which will adversely impact net depreciation per unit per month in Q2. Hertz shares tumbled past 36%.

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