03:32 PM EDT, 07/24/2024 (MT Newswires) -- Consumer stocks were mixed late Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) marginally higher and the Consumer Discretionary Select Sector SPDR Fund (XLY) dropping 3.8%.

In corporate news, T-Mobile US ( TMUS ) said Wednesday it has agreed to form a joint venture with KKR (KKR) that will buy fiber company Metronet, as the wireless carrier looks to expand its broadband portfolio. T-Mobile US ( TMUS ) shares added 0.4%, while KKR was falling 1.7%.