Sector Update: Consumer Stocks Decline Friday Afternoon

MT Newswires Live06-29 02:02

Consumer stocks were lower Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.6% and the Consumer Discretionary Select Sector SPDR Fund (XLY) falling 1%.

In corporate news, Nike (NKE) late Thursday reported a decline in fiscal Q4 revenue that also missed estimates, while it also cut its outlook. Its shares tumbled 20%.

Toyota (TM) plans to launch its first electric-car model with an advanced autonomous driving system in China next year, Reuters reported. Toyota shares added 0.5%.

Six Flags Entertainment (SIX) shares spiked 2% after it said Friday it's introducing Six Flags Metaverse on Roblox (RBLX). Roblox was down 0.4%.

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