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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) decreasing 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1.2%.

In corporate news, Airbnb's (ABNB) Q2 results topped Wall Street's estimates amid strong demand fueled by the FIFA World Cup. Its shares jumped past 14%.

Under Armour (UA) lowered its full-year revenue outlook on Friday amid weak demand in North America and Asia Pacific, while the sportswear maker's fiscal Q1 sales fell short of market estimates. Its shares dropped past 5%.

Wendy's (WEN) Q2 earnings fell year over year amid weak traffic trends, while the fast-food chain withdrew its full-year outlook as a new leadership team pursues a turnaround plan. Wendy's shares were up 2.3%.

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