Consumer stocks were mixed Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1.2%.
In corporate news, Nike (NKE) shares tumbled 14% after the sportswear giant forecast revenue to decline in its fiscal Q4 year over year amid persistent weakness in the key China region, even though the company's sales unexpectedly increased annually in the previous three-month period.
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