03:30 PM EST, 11/26/2024 (MT Newswires) -- Consumer stocks advanced late Tuesday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) up 0.4% and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 0.3%.

Redbook US same-store sales last week rose 4.9% from a year earlier, below the 5.1% increase in the previous week.

In corporate news, shares of General Motors ( GM ) , Ford (F) and Stellantis ( STLA ) fell after President-elect Donald Trump stated his intention to levy additional tariffs on Mexico, Canada and China. GM fell 8.5%, Ford dropped 2.4% and Stellantis ( STLA ) slumped 5.5%.

The Federal Communications Commission approved a license for T-Mobile (TMUS) and SpaceX unit Starlink to boost internet coverage from space to remote areas, Reuters reported. T-Mobile shares gained 1.8%.

Lifeway Foods ( LWAY ) said its board rejected Danone North America's revised acquisition offer of $27 a share because it "substantially undervalues" the company. Lifeway shares rose 3%.

J.M. Smucker (SJM) shares jumped 5.5%. The company reported stronger-than-expected fiscal Q2 results while raising its full-year earnings outlook.