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Sector Update: Consumer Stocks Mixed in Afternoon Trading

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Consumer stocks were mixed Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 2.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.6%.

In corporate news, Yum Brands (YUM) reported stronger-than-expected Q2 earnings Thursday, while revenue fell short as a recent food-safety issue weighed on demand at Taco Bell. Its shares gained 2.8%.

Altria (MO) shares fell 9% after it reported Q2 adjusted earnings that missed analysts' expectations.

Ford (F) Chief Executive Jim Farley told employees at a town hall Thursday that the company is preparing for the possibility that Chinese automakers could enter the US market within the next five to 10 years, Reuters reported. Ford shares were down 3.4%.

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