Sector Update: Consumer

MT Newswires Live01:26

Consumer stocks were lower Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) dropping 1.9%.

In corporate news, Tesla's (TSLA) expansion into Miami saw Robotaxis being debuted with fewer drivers and without people acting as safety monitors and sitting in passenger seats for early rides, The Information reported. The launch represents Tesla CEO Elon Musk's strategy of rapidly expanding Robotaxi service without the kind of market-by-market training as seen in rival Alphabet's (GOOG, GOOGL) Waymo, the report said. Tesla shares were down 2.1%.

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