01:25 PM EDT, 05/10/2024 (MT Newswires) -- Consumer stocks were mixed Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.3% and the Consumer Discretionary Select Sector SPDR Fund (XLY) shedding 0.6%.

In corporate news, FAT Brands ( FAT ) shares plunged almost 24% after lawyers representing the company said the restaurant operator was indicted on two violations of the Sarbanes-Oxley Act for arranging about $2.7 million in loans to former Chief Executive Andrew Wiederhorn.