08:52 AM EDT, 10/31/2024 (MT Newswires) -- Consumer stocks were leaning lower premarket Thursday with the Consumer Discretionary Select Sector SPDR Fund (XLY) inactive and the Consumer Staples Select Sector SPDR Fund (XLP) down 0.2% recently.

Estee Lauder ( EL ) shares were down more than 24% after the company withdrew its fiscal 2025 guidance due to "incremental uncertainty on timing of stabilization" in China and Asia travel retail as well as because of leadership changes. The company also lowered its quarterly dividend.