03:34 PM EDT, 05/02/2024 (MT Newswires) -- Consumer stocks were higher late Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) adding 1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) up 1.3%.

In corporate news, Sony ( SONY ) and Apollo (APO) have made a $26 billion all-cash offer for Paramount (PARA), The Wall Street Journal reported Thursday. Paramount shares jumped 12.6%, while Sony ( SONY ) rose 1.7% and Apollo added 3.8%.