01:32 PM EDT, 05/03/2024 (MT Newswires) -- Consumer stocks were higher Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 0.8% recently.

In corporate news, Skydance is prepared to withdraw its offer for Paramount (PARA) unless it receives a commitment from controlling shareholder Shari Redstone, following a recent offer for Paramount from Apollo Global Management ( APO ) and Sony Pictures (SONY), CNBC reported Friday. Paramount shares were 2.9% higher.