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Sector Update: Consumer Stocks Rise Friday Afternoon

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-- Consumer stocks were higher Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.8% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gaining 0.6%.

In corporate news, Monster Beverage (MNST) shares jumped past 15% after the company reported Q1 results above market estimates amid strong growth in the energy drinks category.

Airbnb's (ABNB) Q1 earnings lagged Wall Street's estimates, while the vacation rental firm reported higher-than-expected revenue amid demand momentum. Its shares were up 3.1%.

Wendy's (WEN) reiterated its full-year outlook on Friday as the fast food chain's fiscal Q1 revenue unexpectedly increased year over year. Its shares climbed 3%.

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