12:59 PM EST, 01/28/2026 (MT Newswires) -- Consumer stocks were lower Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.7% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.4%.

In corporate news, Amazon.com ( AMZN ) said Wednesday it intends to eliminate about 16,000 corporate jobs as part of ongoing organizational changes. Amazon ( AMZN ) shares were down 0.7%.