09:11 AM EDT, 08/21/2024 (MT Newswires) -- Consumer stocks were advancing pre-bell Wednesday with the Consumer Staples Select Sector SPDR Fund ( XLP ) up 0.8% and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) 0.6% higher recently.

Target ( TGT ) shares rose past 16% after it reported higher fiscal Q2 adjusted earnings and revenue. The company also raised its forecast for fiscal 2024 adjusted earnings per share.

TJX Companies ( TJX ) shares were up 6% after it reported higher Q2 earnings and net sales. The company also increased its outlook for fiscal full-year 2025 earnings per share.

Walmart ( WMT ) sold its entire stake in Chinese e-commerce firm JD.com ( JD ) , a regulatory filing showed. JD.com ( JD ) shares were nearly 8% lower premarket.