Sector Update: Consumer Stocks Mixed in Afternoon Trading

MT Newswires Live01:58

Consumer stocks were mixed Tuesday afternoon with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 0.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1%.

Redbook US same-store sales last week rose 9.3% from a year earlier after a 9% increase in the previous week. Halloween merchandise sales are picking up, an early indicator that Christmas sales may be strong, Redbook said.

In corporate news, United Parcel Service (UPS) shares gained 4.9% after the company raised its full-year outlook, saying the outlook for holiday demand is strong.

Coca-Cola (KO) raised its full-year earnings growth outlook as the beverage giant's fiscal Q3 results topped market estimates amid global volume growth. The shares fell 0.9%.

Dollar General (DG) was sued by the US Federal Trade Commission and 20 states for allegedly engaging in "long-running deceptive pricing practices," the agency said. Dollar General shares fell 1%.

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