Sector Update: Consumer Stocks Retreat in Afternoon Trading

MT Newswires Live01-03 02:44

Consumer stocks fell Thursday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.6% and the Consumer Discretionary Select Sector SPDR Fund (XLY) dropping 1.8%.

In corporate news, Tesla (TSLA) vehicle deliveries fell in 2024 from a year earlier with Q4 figures missing Wall Street's forecasts. The stock fell 6.7%.

Carvana (CVNA) shored up its numbers through "related-party accounting games" while its market was falling, short seller Hindenburg Research said in a report. Carvana shares fell 4%.

Arcos Dorados (ARCO) shares rose 3% after the company renewed its master franchise agreement with McDonald's (MCD) for the next 20 years.

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