Sector Update: Consumer Stocks Rise in Late Afternoon Trading

MT Newswires Live07-03

Consumer stocks were higher late Tuesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) adding 0.4% and the Consumer Discretionary Select Sector SPDR Fund (XLY) climbing 1.7%.

Redbook US same-store sales rose by 5.8% from a year earlier in the week ended June 29 after a 5.3% year-over-year increase in the previous week.

In corporate news, Paramount (PARA) is having discussions to sell its Black Entertainment Television network for $1.6 billion to $1.7 billion, Bloomberg reported. Paramount shares spiked past 5%.

JD.com (JD) is among the companies planning to bid for UK-based parcel delivery company Evri, Reuters reported Tuesday. JD shares rose 1.2%.

The US Federal Trade Commission has voted to block Tempur Sealy International's (TPX) $4 billion acquisition of Mattress Firm, the regulator said. Tempur shares were rising 2.2%.

Tesla's (TSLA) stronger-than-projected Q2 deliveries mark "a huge comeback" by the electric vehicle maker, with the worst now likely in the rearview mirror for the company, Wedbush said Tuesday. Tesla shares jumped about 9%.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment