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Sector Update: Consumer Stocks Edge Higher Tuesday Afternoon

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

Redbook US same-store sales soared 9.4% from a year earlier in the week ended June 13, after surging 9.1% in the previous week. Seasonal categories such as air conditioners, fans, pool and beach equipment, swimwear, and other hot-weather apparel led the growth, according to Redbook.

In corporate news, Yum Brands (YUM) shares rose 1.9% 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%.

Senators Edward Markey (D-Mass.) and Richard Blumenthal (D-Conn.) on Monday asked the US National Highway Traffic Safety Administration to examine Tesla's (TSLA) self-published crash statistics for its "Full Self-Driving" system, Reuters reported Tuesday. In their letter to the NHTSA, the senators cited an earlier Reuters investigation that found that Tesla was exaggerating its safety claims, the report said. Tesla shares were down 1.6%.

John Wiley & Sons (WLY) shares added 0.4% after it reported higher fiscal Q4 results on Tuesday and said it expects fiscal 2027 results to show further gains.

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