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Sector Update: Consumer

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Consumer stocks were mixed premarket Tuesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 0.3% higher.

MGM Resorts International (MGM) is evaluating a takeover proposal from billionaire investor Barry Diller after the company's board formed a special committee and hired advisers to review the offer, The Wall Street Journal reported, citing people familiar with the matter. Shares of MGM Resorts International were up 0.5% pre-bell.

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Sector Update: Tech Stocks Fall Late Afternoon

Tech stocks were lower late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 2.8% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 5.2%.The Philadelphia Semiconductor Index fell 5.2%.In corporate news, Intel (INTC) said Monday it is investing 5 billion euros ($5.71 billion) at its Leixlip campus in Ireland to scale capacity in order to deliver Intel Xeon 6 processors and next generation Intel Xeon built on its Intel 3 node. Intel shares were down 6.3%.Meta (META) said Monday it plans to invest over $50 billion in its Richland Parish, Louisiana, infrastructure project to expand its computing capacity to 5 gigawatts. Meta shares were shedding 1.8%.Alphabet's (GOOGL) Google is one of the biggest buyers of Nvidia's (NVDA) AI server chips, but it has also been expanding its in-house AI chip business in a move that could challenge Nvidia's dominance, The Information reported. Alphabet shares were down 1.2%, and Nvidia fell 3.4%.SK Hynix (SKHY) CEO Kwak Noh-Jung expects the global shortage of memory chips to persist beyond 2030 as demand driven by AI continues to outpace supply, Bloomberg reported Friday. The shares were down 8.8%.

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Sector Update: Financial Stocks Rise Late Afternoon

Financial stocks were advancing in late Monday afternoon trading, with the NYSE Financial Index rising 0.2% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 0.5%.The Philadelphia Housing Index was falling 1.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.4%.Bitcoin (BTC-USD) was declining 2.7% to $62,004, and the yield for 10-year US Treasuries was rising 4 basis points to 4.609%.In corporate news, First Hawaiian (FHB) agreed to buy TriCo Bancshares (TCBK) in an all-stock deal to create one of the largest banks in the western US. First Hawaiian shares were down 3.4%, and TriCo jumped past 12%.Brookfield (BN) is in advanced talks to acquire a stake in Hudson Square Properties in a deal that would value the office portfolio at $3.5 billion, The Wall Street Journal reported. Brookfield shares were down 1.1%.Saudi digital services provider NourNet is working with Goldman Sachs (GS) and HSBC (HSBC) on a potential IPO that could take place as early as this year, Bloomberg reported. Goldman shares were down 1%, and HSBC was shedding 1.3%.Mastercard (MA) shares were rising 2%. The Financial Times reported Sunday the company is exploring the sale of a majority stake in its UK payments infrastructure subsidiary Vocalink potentially back to British banks.

$BN$FHB$GS$HSBC$MA$TCBK
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Sector Update: Consumer Stocks Mixed Late Afternoon

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