03:39 PM EDT, 05/07/2025 (MT Newswires) -- Consumer stocks were rising late Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 0.3%.

In sector news, US Treasury Secretary Scott Bessent is set to meet China's lead representative on economic matters in Switzerland later this week, the Treasury said in a Tuesday statement.

In corporate news, Lottery.com ( LTRY ) said Wednesday that it signed a letter of intent to acquire a 51% stake in DotCom Ventures, together with domain assets Concerts.com and TicketStub.com, in a deal valued at $10 million. Shares were down 0.6%.