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Sector Update: Consumer
Jul 7, 2025 10:25 AM

01:03 PM EDT, 07/07/2025 (MT Newswires) -- Consumer stocks were declining Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.3% and the Consumer Discretionary Select Sector SPDR Fund (XLY) dropping 1.7%.

In corporate news, Tesla (TSLA) shares fell past 7% after news over the weekend that Chief Executive Elon Musk plans to launch a new political party called "America Party."

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