01:31 PM EDT, 05/30/2024 (MT Newswires) -- Consumer stocks were rising Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.4% and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 0.7%.

In corporate news, Best Buy's ( BBY ) fiscal Q1 earnings grew more than the market forecast, and its guidance for fiscal 2025 was in line with analysts' expectations. Its shares surged almost 13%.