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Sector Update: Consumer Stocks Rise Friday Afternoon

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Consumer stocks were rising Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 1.1%.

In corporate news, Ross Stores (ROST) raised its full-year earnings outlook as the off-price apparel and home fashion chain reported stronger-than-expected fiscal Q2 results. Its shares gained 5.8%.

BJ's Wholesale Club's (BJ) fiscal Q2 results came in ahead of Wall Street's estimates, prompting the warehouse club operator to lift its full-year earnings outlook. Its shares climbed 4.9%.

Walmart (WMT) said Friday it will add Tap to Pay technology to payment options at some Walmart stores and Sam's Club locations starting Monday. The retail giant will roll out the feature to all US stores and clubs by the end of the year and to fuel stations by the middle of next year, it said. Separately, Walmart's mixed Q2 performance has raised questions around the trajectory of its core US business, though its new business model could drive growth in the long term, UBS said in a note. UBS trimmed its price target for Walmart to $130 from $141, but reiterated its buy rating. Walmart shares were down 0.9%.

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Sector Update: Financial Stocks Softer Late Afternoon

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Sector Update: Energy Stocks Advance Late Afternoon

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