01:37 PM EDT, 04/03/2025 (MT Newswires) -- Consumer stocks were mixed Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) rising 0.7% and the Consumer Discretionary Select Sector SPDR Fund (XLY) dropping 5.2%. In sector news, President Donald Trump's auto tariffs will likely cost US car buyers about $30 billion in the first year, assuming carmakers will absorb...

* Investors were prepared for market volatility, but not of such magnitude * Tariffs impact corporate earnings, increase recession risk, say investment officers * Diversified portfolios recommended amid uncertainty, potential retaliation from other countries By Suzanne McGee April 3 (Reuters) - Investors had been prepared for a shock heading in to U.S. President Donald Trump's announcement of sweeping new tariffs...

(Reuters) - Fitch Ratings on Thursday downgraded Southwest Airlines ( LUV ) to a negative outlook from its earlier stable rating, citing the carrier's possible shift to a less conservative capital allocation and financial policy. The credit rating agency adds that Southwest's ( LUV ) lack of progress towards margin improvement and higher capital deployment may drive a negative rating...

April 3 (Reuters) - Capital One Financial Corp ( COF ) got a greenlight from the Justice Department for its proposed acquisition of Discover Financial Services ( DFS ) after the DOJ told other regulators looking into the merger that it doesn't see sufficient competition concerns to block the deal, the New York Times reported on Thursday. The Office of...