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Sector Update: Consumer Stocks Mixed Late Afternoon

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Consumer stocks were mixed late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) fractionally lower and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 0.8%.

In corporate news, General Motors' (GM) US vehicle sales fell year over year in Q2, with the carmaker attributing the decline in part to a smaller electric vehicle market. GM shares were down 2.1%. Separately, Stellantis (STLA) shares added 1.7% after it said Wednesday its total US sales for H1 2026 increased 5%, with momentum continuing in Q2 with the brands' total sales up 6% and June sales rising 10% year over year.

FedEx (FDX) has agreed to sell its supply chain subsidiary to French shipping and logistics firm CMA CGM in a roughly $1.4 billion deal, as the parcel delivery giant continues to streamline its portfolio. FedEx shares rose 0.4%.

Nike's (NKE) fiscal Q4 revenue slipped year-over-year, while earnings got a boost from expected tariff refunds. Its shares climbed 4%.

Kroger (KR) agreed to buy food and pharmacy retailer Giant Eagle in a $1.65 billion deal that will expand the supermarket chain's footprint into new markets. Kroger shares rose 0.7%.

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