Sector Update: Consumer-February 2024-www.financetom.com

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Sector Update: Consumer

Aug 19, 2024 11:14 AM

01:29 PM EDT, 08/19/2024 (MT Newswires) -- Consumer stocks were higher Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.4% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 1%.

In corporate news, Estee Lauder ( EL ) issued a downbeat earnings outlook for fiscal 2025 amid continued softening demand in China, while the company said Chief Executive Fabrizio Freda plans to retire next year. Its shares were up 0.4%.

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