03:28 PM EDT, 03/27/2024 (MT Newswires) -- Consumer stocks advanced late Wednesday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) and the Consumer Discretionary Select Sector SPDR Fund (XLY) each rising 0.7%.

In corporate news, ONE Group Hospitality ( STKS ) shares surged nearly 24% after the company said it will buy Safflower in a deal valued at $365 million.