Sector Update: Consumer Stocks Fall in Late Afternoon Trading

MT Newswires Live06-29 03:56

Consumer stocks declined late Friday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) shedding 0.5% and the Consumer Discretionary Select Sector SPDR Fund (XLY) slumping 1.2%.

In corporate news, Hertz (HTZ) shares were down 0.9% after Fitch downgraded the company's senior unsecured debt rating to CCC-/RR6 from CCC+/RR5.

Live Nation (LYV) and its Ticketmaster unit may face a trial in early 2026 following a antitrust lawsuit by the US Justice Department seeking to break up the entertainment giant, Reuters reported late Thursday, citing a court hearing. Live Nation shares were rising 3.2%.

Nike (NKE) late Thursday reported a decline in fiscal Q4 revenue that also missed estimates, while it also cut its outlook. Its shares tumbled past 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 0.4%.

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