08:50 AM EDT, 08/26/2024 (MT Newswires) -- Consumer stocks were rising in Monday's premarket hours with the Consumer Staples Select Sector SPDR Fund (XLP) 0.1% higher and the Consumer Discretionary Select Sector SPDR Fund (XLY) up 0.2% recently.

PDD Holdings Inc ( PDD ) shares fell 18% after it reported a Q2 revenue of 97.06 billion Chinese renminbi ($13.63 billion), up from 52.28 billion renminbi a year earlier but missing the forecast of 100.1 million renminbi from analysts surveyed by Capital IQ.