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Sector Update: Consumer Stocks Decline in Afternoon Trading

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Consumer stocks were lower Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.7% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.5%.

In sector news, Canadian tariffs announced after trade talks with the US collapsed last month took effect on Tuesday and range from 15% to 50%, impacting hundreds of US products, including dairy, agricultural equipment, paper, household appliances and electronics.

In corporate news, United Natural Foods (UNFI) swung to stronger-than-expected Q4 earnings and announced a share buyback program on Tuesday, while its full-year outlook fell short of Wall Street's expectations. Its shares rose 4%.

Investigators said they have yet to determine the cause of Sunday's Amazon (AMZN) cargo plane crash on landing in Miami, news outlets reported Tuesday. The Boeing (BA) 767-300, operated by 21 Air, killed five and injured five others when it struck vehicles after overshooting the runway, the report said. Amazon shares were shedding 0.5%.

Ford (F), Stellantis (STLA) and Hyundai Motor are planning extended-range electric vehicles that combine large batteries with gasoline-powered generators to address consumer concerns over EV range, The Wall Street Journal reported Sunday. Ford shares were down 2.9%, and Stellantis shed 2.6%.

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Sector Update: Energy Stocks Softer Late Afternoon

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Sector Update: Financial Stocks Retreat Late Afternoon

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