01:28 PM EDT, 06/12/2024 (MT Newswires) -- Consumer stocks were mixed Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) shedding 0.8% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 1.4%.

In corporate news, FedEx ( FDX ) shares were declining 1.3% after it said Wednesday it plans to cut between 1,700 and 2,000 European back-office and commercial jobs as part of an ongoing effort to reduce costs.