01:33 PM EDT, 09/23/2024 (MT Newswires) -- Consumer stocks were advancing Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.7% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 0.8%.

In corporate news, General Motors ( GM ) plans to lay off 1,695 workers at its Fairfax assembly facility in Kansas, Reuters reported Saturday. GM shares dropped 2.7%.