Sector Update: Consumer Stocks Retreat in Late Afternoon Trading

MT Newswires Live10-18

Consumer stocks were declining late Thursday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.5% and the Consumer Discretionary Select Sector SPDR Fund (XLY) shedding 0.2%.

In corporate news, Ferrari (RACE) on Thursday announced its new supercar, the F80, with a 1,200-horsepower V6 hybrid engine. Its shares gained 1.8%.

NuZee (NUZE) said Thursday it set up offices in Singapore, Hong Kong, Mainland China, and other regions to develop its global business. The company also moved its US operations to Florida from California. Its shares soared 602%.

Uber (UBER) is exploring a possible bid to buy Expedia (EXPE), the Financial Times reported late Wednesday. Uber shares fell 2.2%, and Expedia jumped nearly 5%.

Tesla (TSLA) released Thursday a short video showing the progress of its Optimus robot project amid questions about the humanoid machine's level of autonomy. Tesla shares were shedding 0.5%.

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