01:26 PM EDT, 05/08/2024 (MT Newswires) -- Consumer stocks were declining Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) decreasing 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 0.7%.

In corporate news, Uber ( UBER ) shares tumbled 9% after reporting a Q1 net loss of $0.32 per diluted share, widening from a $0.08 per-share loss a year earlier.