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Sector Update: Consumer Stocks Rise Wednesday Afternoon

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Consumer stocks were higher Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1.2%.

In corporate news, General Mills (GIS) reported better-than-expected fiscal Q4 results on Wednesday, and said it's eyeing $3 billion in cost savings by fiscal 2030. Its shares jumped past 8%.

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 were 0.2% higher.

Nike's (NKE) fiscal Q4 revenue slipped year-over-year, while earnings got a boost from expected tariff refunds. Its shares climbed 2.5%.

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