Sector Update: Consumer Stocks Lean Lower Premarket Friday
Consumer stocks were leaning lower premarket Friday, with the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) inactive and the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.2%.RLX Technology (RLX) shares were down more than 5% after the company reported a decline in Q2 non-GAAP earnings.Tyson Foods (TSN) will end operations at its Joslin, Illinois, beef facility and its Eagle Mountain, Utah, case-ready facility as part of a restructuring of its beef business, the company said. Tyson Foods stock was up more than 1% pre-bell.Alibaba (BABA) is closing in on a $1.5 billion sale of its video-game arm to private equity firm Trustar Capital, Bloomberg reported, citing unnamed people with knowledge of the matter. Alibaba shares were 0.7% higher premarket.
