01:37 PM EDT, 08/08/2024 (MT Newswires) -- Consumer stocks were rising Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.8% and the Consumer Discretionary Select Sector SPDR Fund (XLY) climbing 2.3%.

In corporate news, Monster Beverage ( MNST ) shares tumbled 11% as the company's Q2 results fell short of Wall Street's estimates amid softening demand and consumer spending.