Sector Update: Consumer Stocks Mixed in Afternoon Trading

MT Newswires Live12-27

Consumer stocks were mixed Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.3% and the Consumer Discretionary Select Sector SPDR Fund (XLY) shedding 0.2%.

In corporate news, Toyota (TM) shares jumped past 8% after Nikkei reported Wednesday that the carmaker is looking at a 20% return on equity target for fiscal 2025, against market forecasts of 11%.

Starbucks' (SBUX) employees returned to work Wednesday after a five-day strike strike in which the union claimed baristas in 43 states walked off the job. Starbucks shares were rising 2.1%

Ryde (RYDE) shares surged 21%. The company said municipal officials in Singapore have renewed its license as a full ride-hailing and carpool operator for the next three years.

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