01:31 PM EST, 12/18/2024 (MT Newswires) -- Consumer stocks were declining Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) shedding 0.5% and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 0.3%.

In corporate news, General Mills ( GIS ) lowered its full-year earnings outlook as it increases investments to improve volume and market share trends, even though the packaged foods maker recorded better-than-expected fiscal Q2 results. Its shares were falling 3.4%.