Sector Update: Consumer Stocks Decline Thursday Afternoon

MT Newswires Live01:41

Consumer stocks were lower Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.5%.

In corporate news, Dollar General (DG) reported better-than-expected fiscal Q4 results on Thursday, but the discount retailer's full-year same-store sales growth is forecast to slow on an annual basis. Its shares slumped 5.6%.

Caesars Entertainment (CZR) has been in exclusive takeover discussions with Tilman Fertitta for about $7 billion after the billionaire topped a competing offer from Icahn Enterprises (IEP) for the betting company, The Wall Street Journal reported. Caesars shares were decreasing 2.1%.

Li Auto (LI) issued a weak Q1 outlook for revenue on Thursday, while the Chinese automaker reported lower-than-expected sales in the previous three-month period. Its shares fell 1.3%.

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