08:58 AM EDT, 04/24/2024 (MT Newswires) -- Consumer stocks were higher pre-bell Wednesday as the Vanguard Consumer Staples Fund (VDC) was flat and the Discretionary Select Sector SPDR Fund (XLY) recently advanced by 1.2%.

Tesla (TSLA) was up past 10% in premarket activity after the EV maker posted earnings late Tuesday and revealed plans to lower production costs and introduce more affordable models.

New Oriental Education & Technology Group ( EDU ) traded down past 2% after the company reported fiscal Q3 adjusted earnings that fell short of analyst estimates.

Hilton Worldwide (HLT) rose more than 4% after reporting higher Q1 earnings and revenue.

Smart for Life ( SMFL ) shares rose more than 3% after the company said late Tuesday it had completed a financial restructuring of the company.