08:53 AM EDT, 07/03/2025 (MT Newswires) -- Consumer stocks were advancing premarket Thursday with the Consumer Staples Select Sector SPDR Fund (XLP) up 0.3% and the Consumer Discretionary Select Sector SPDR Fund (XLY) 0.5% higher recently.

Alibaba Group Holding ( BABA ) shares were down more than 2% after the company said it plans to issue approximately 12 billion Hong Kong dollars ($1.53 billion) in zero-coupon exchangeable bonds due 2032 tied to Alibaba Health shares listed on the Hong Kong Stock Exchange.