03:30 PM EDT, 08/21/2025 (MT Newswires) -- Consumer stocks were lower late Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) falling 1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 0.5%.

In corporate news, two Democrats in the US House of Representatives are investigating the recently completed merger between Paramount and Skydance Media that formed Paramount Skydance ( PSKY ) to determine if the companies submitted to "illegitimate demands" from President Donald Trump in order to earn regulatory approval, CNBC reported, citing a letter the legislators sent to Chief Executive David Ellison. Paramount Skydance ( PSKY ) shares were up nearly 14%.