09:16 AM EDT, 07/16/2024 (MT Newswires) -- Consumer stocks were edging higher pre-bell Tuesday as the Consumer Staples Select Sector SPDR Fund ( XLP ) was 0.1% higher and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) was up 0.5% recently.

Philip Morris International ( PM ) said its US affiliate will open a new manufacturing facility in Aurora, Colorado, with an investment of $600 million over the next two years. The company was up 0.7% premarket.

SNDL ( SNDL ) said it plans to cut 106 jobs in a restructuring intended to reduce costs. SNDL ( SNDL ) was 0.5% higher pre-bell.