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Sector Update: Consumer Stocks Mixed Late Afternoon

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Consumer stocks were mixed late Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.4%.

In corporate news, Walmart (WMT) investors voted against a proposal asking the retailer to report on how its use of AI is affecting worker well-being, Reuters reported, citing preliminary voting results from the shareholder meeting. The shareholder proposal was filed by United for Respect, the report said. Walmart shares were up 0.5%.

General Motors (GM) has rehired more than 100 members of its Cruise unit's team 18 months after killing off the self-driving vehicle unit, The Information Electric reported, citing Rashed Haq, GM's vice president of autonomous vehicles. GM shares were up 1.9%.

Costco (COST) shares rose 0.8% after the company reported net sales of $24.01 billion in May, up from $20.97 billion a year earlier.

Hyatt Hotels (H) shares climbed 1.8% after HSBC upgraded the stock to buy from hold with a price target of $212 per share.

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