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Sector Update: Consumer Stocks Rise in Afternoon Trading

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Consumer stocks were higher Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 1.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 1.7%.

In corporate news, Target (TGT) lifted its full-year outlook on Wednesday as tariff refunds helped double the retailer's fiscal Q2 earnings year over year. Shares gained past 5%.

TJX (TJX) issued a fiscal Q3 comparable store sales forecast that fell short of market expectations on Wednesday, but raised its full-year earnings outlook. Shares fell 3.3%.

Lowe's (LOW) lowered full-year expectations on Wednesday as the home-improvement retailer's fiscal Q2 revenue fell short of market estimates amid pressure on do-it-yourself spending. Lowe's shares were up 2.4%.

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