08:49 AM EDT, 08/30/2024 (MT Newswires) -- Consumer stocks were edging higher pre-bell Friday as the Consumer Staples Select Sector SPDR Fund (XLP) was marginally higher and the Consumer Discretionary Select Sector SPDR Fund (XLY) recently advanced by 0.4%.

Chinese regulators said Friday that Alibaba Group Holding ( BABA ) had been cleared of allegations of monopolistic practices after a three-year investigation. Alibaba Group ( BABA ) shares were up more than 4% premarket.