Sector Update: Consumer Stocks Mixed Late Afternoon
Consumer stocks were mixed late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) easing 0.1%.In corporate news, Kimberly-Clark (KMB) is preparing potential asset sales to address EU antitrust concerns over its proposed acquisition of Kenvue (KVUE), Reuters reported. The European Commission is expected to formally communicate its concerns to Kimberly-Clark this week following a preliminary review of the deal, the report added. Kimberly-Clark shares were up 1.5%.Amazon-backed (AMZN) Anthropic has entered into a $13.7 billion, six-year computing deal with Rum Group (RUM), which hosts US President Donald Trump's Truth Social platform, The Information reported over the weekend. Rum shares jumped past 12%.Netflix (NFLX), Amazon and Alphabet's (GOOGL) YouTube have formed a policy coalition to support shared positions on key issues, Axios reported. The Streaming Access and Choice Alliance is led by trade group TechNet with the big three streamers as its founding corporate members, the report said. Netflix shares were rising 3.8%.Toyota Motor (TM) said Monday it plans to launch a hydrogen fuel cell version of its Hilux pickup truck in 2028. The vehicle will target a driving range of more than 400 kilometers and towing capacity of up to 2.5 metric tons, Toyota said. Its shares were down 0.6%.
