01:34 PM EDT, 07/05/2024 (MT Newswires) -- Consumer stocks were advancing Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.7% and the Consumer Discretionary Select Sector SPDR Fund (XLY) up 0.3%.

In corporate news, Macy's (M) is the target of a $6.9 billion buyout attempt by investors who have previously failed to acquire the retailer, The Wall Street Journal reported Wednesday. Macy's shares surged nearly 9%.