Sector Update: Consumer Stocks Advance Pre-Bell Monday

MT Newswires Live12-16

Consumer shares were advancing pre-bell Monday with the Consumer Staples Select Sector SPDR Fund (XLP) up 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) 0.4% higher recently.

Alibaba Group Holding (BABA) is nearing an agreement to sell its department store business Intime to Youngor Fashion for roughly $1 billion, Bloomberg reported Monday, citing unnamed sources familiar with the plan. Alibaba shares were down 1.9%.

Procter & Gamble (PG) promised a group of shareholders it would disclose more details on its audit practices for wood pulp suppliers, Reuters reported Monday, citing the investors. The company's shares were up 0.3%.

Starbucks (SBUX) will increase paid parental leave for US store employees working at least 20 hours per week, according to a website message from the company's Chief Executive Brian Niccol on Monday. The company's shares were marginally higher.

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