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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) increasing 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.7%.

US consumer sentiment dropped in August amid concerns that inflation will continue to be high for the "foreseeable future," final results of a University of Michigan survey showed Friday. The main sentiment index fell 6.3% sequentially to 51.7 this month. The gauge for current economic conditions decreased to 51.9 from 54.8, while the index of consumer expectations slid 7% to 51.5, according to the survey.

In corporate news, Walmart (WMT) has settled a US government lawsuit alleging its pharmacies unlawfully dispensed opioids and other controlled substances, Reuters reported Friday, citing a Justice Department statement. Walmart shares were up 0.2%.

Gap (GAP) shares jumped 13% after the company raised its fiscal 2026 adjusted earnings guidance.

Fox (FOX) could still be part of a future re-merger with News Corp. (NWSA), Reuters reported Thursday, citing court filings and testimony tied to the Murdoch family succession dispute. Fox shares rose 1.6%, and News Corp. was shedding 0.6%.

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Sector Update: Consumer Stocks Fall Late Afternoon

Consumer stocks declined late Thursday afternoon with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) dropping 1.1%.In corporate news, Hormel Foods (HRL) lowered its fiscal 2026 sales outlook after reporting mixed Q3 results with sales falling amid soft consumer demand. The stock slumped 10%.Celsius Holdings (CELH) shares fell 6.1% after Deutsche Bank downgraded the stock to hold from buy and raised its price target to $35 from $30.Dollar General (DG) and Dollar Tree (DLTR) raised their full-year earnings outlooks as the discount retailers' earnings benefited from tariff refunds in fiscal Q2. Dollar General shares rose 2.9%, and Dollar Tree fell 3.2%.Unilever (UL) hired Rothschild to market its 212-year-old Colman's mustard brand as it seeks to address potential competition concerns from the planned combination of its food business with McCormick (MKC), Sky News reported. Unilever shares fell 0.7%.

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Sector Update: Healthcare Stocks Decline Late Afternoon

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Sector Update: Financial Stocks Softer Late Afternoon

Financial stocks were lower in late Thursday afternoon trading, with the NYSE Financial Index shedding 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) off 0.7%.The Philadelphia Housing Index was falling 1.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.8%.Bitcoin (BTC-USD) was rising 2% to $80,007, and the yield for 10-year US Treasuries was one basis point higher at 4.67%.In economic news, the advance international trade in goods deficit widened to $118.81 billion in July from $101.41 billion in June, according to data released by the US Census Bureau. This was a wider gap than the $100.5 billion deficit expected in a survey compiled by Bloomberg.US initial jobless claims fell to 203,000 in the week ended Aug. 22 from an upwardly revised 207,000 in the previous week, in contrast with expectations for an increase to 208,000 in a survey of analysts compiled by Bloomberg.In corporate news, Bank of America (BAC), UBS (UBS), and UniCredit are working with private aviation firm Vista Global on a potential initial public offering in Europe that could raise over $1 billion, Bloomberg reported. Bank of America shares were down 1.5%, and UBS was shedding 0.3%.JPMorgan Chase (JPM), Bank of America, Goldman Sachs (GS) and Morgan Stanley (MS) are clashing over pending changes to the Federal Reserve's capital surcharge on global systemically important banks, or GSIB, Reuters reported. The Federal Reserve proposed changes to the surcharge in March, including revised policies on short-term wholesale funding, to make the levy more risk-sensitive, the report said. Sources said JPMorgan and Bank of America argued that the proposal would benefit rivals Morgan Stanley and Goldman Sachs, Reuters reported. JPMorgan shares were down 0.7%, Goldman shed 0.2%, and Morgan Stanley advanced 0.3%.Enbridge (ENB) has entered into a definitive agreement with KKR (KKR) to form a joint venture that will invest about $2.7 billion Canadian dollars ($1.94 billion) to fund the expansion of the Aspen Point and Sunrise programs on the Westcoast natural gas pipeline system, the company said Thursday. Separately, KKR has agreed to settle for $250 million a US Department of Justice lawsuit accusing the firm of repeatedly violating federal pre-merger filing rules, the regulator said Wednesday. KKR shares rose 0.7%.Toronto-Dominion Bank (TD) shares climbed 1.6% after the company reported higher fiscal Q3 adjusted earnings and revenue.

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