01:21 PM EST, 12/04/2024 (MT Newswires) -- Consumer stocks were mixed Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.5% and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 0.3%.

In corporate news, General Motors ( GM ) said Wednesday that it expects a more than $5 billion profit hit amid competitive market conditions in China that will require restructuring operations in the country. Its shares fell 1.3%.