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Sector Update: Consumer

Dec 11, 2024 10:57 AM

01:30 PM EST, 12/11/2024 (MT Newswires) -- Consumer stocks were mixed Wednesday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) fractionally lower and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 1.6%.

In corporate news, Albertsons ( ACI ) terminated its planned $25 billion acquisition by Kroger ( KR ) after two courts ruled to block the deal, while the grocery chain sued Kroger ( KR ) for allegedly failing in an effort to secure regulatory approval. Albertsons ( ACI ) shares fell 0.6% and Kroger ( KR ) rose 1%.

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