03:37 PM EDT, 09/27/2024 (MT Newswires) -- Consumer stocks were rising late Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.4% and the Consumer Discretionary Select Sector SPDR Fund (XLY) 0.3% higher.

In corporate news, Wynn Resorts' ( WYNN ) underappreciated growth opportunity in the United Arab Emirates, near low valuation, and other factors give the company a favorable risk-reward and re-rating potential, Morgan Stanley said in a report. The investment firm upgraded Wynn to overweight from equal weight and increased its price target to $104 from $97. Wynn shares jumped over 7%.