03:32 PM EDT, 07/05/2024 (MT Newswires) -- Consumer stocks were gaining late Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) adding 1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) up 0.7%.

In corporate news, Constellation Brands ( STZ ) shares spiked 3% as UBS, Jefferies and JPMorgan upgraded their respective price targets on the stock. Earlier this week, the beer and wine company reported that its earnings and revenue rose year over year during fiscal Q1, while it maintained its full-year revenue outlook.