03:32 PM EDT, 04/02/2025 (MT Newswires) -- Consumer stocks were mixed late Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.5% and the Consumer Discretionary Select Sector SPDR Fund (XLY) climbing 1.7%.

In sector news, the implementation of 25% auto tariffs is expected to drive significant price increases leading to demand destruction of up to 3.2 million vehicles annually and a potential 15% to 20% reduction in vehicle sales, BofA Securities said.

In corporate news, Walmart ( WMT ) is urging its Chinese suppliers to lower their prices to offset President Donald Trump's tariffs, Bloomberg reported. Walmart ( WMT ) shares were rising 0.8%.