03:39 PM EST, 03/07/2024 (MT Newswires) -- Consumer stocks advanced late Thursday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.5% and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 0.8%.

In corporate news, Rivian Automotive ( RIVN ) shares jumped 14% after the company unveiled the R2, R3 and R3x vehicles built on its new midsize platform.