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Sector Update: Consumer Stocks Mixed Friday Afternoon

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Consumer stocks were mixed Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.1%.

US consumer sentiment has rebounded in June as gasoline prices eased, while the inflation outlook dropped, the University of Michigan's preliminary survey showed Friday. The main sentiment index rose 9.2% sequentially to 48.9 this month, following three consecutive drops. The consensus was for a 46 print in a Bloomberg poll.

In corporate news, Lennar (LEN) shares fell 4.5% after the homebuilder issued a fiscal Q3 delivery outlook below market estimates, while its revenue trailed expectations in the previous three-month period amid persistent housing market headwinds.

Uber (UBER) is contacting parties interested in Delivery Hero's regional businesses as it seeks regulatory approval for its planned takeover of the German food delivery company, Bloomberg reported. Uber shares were down 2.2%.

General Motors (GM) was awarded a $623.8 million firm-fixed-price Army contract for infantry squad vehicles and winch kits, the US Department of Defense said Thursday. GM shares rose 0.8%.

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