Consumer stocks were mixed late Thursday afternoon with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 1.8% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.1%.
In corporate news, Ferrari's (RACE) Q2 should deliver further sequential acceleration, along with an expected 2026 guidance upgrade, indicating a stronger-than-expected second-half performance ahead of a "balanced year" guidance, UBS Securities said in a note.
UBS kept a buy rating on Ferrari and raised the price target to $497 from $483. Ferrari shares rose 2.3%.