09:17 AM EDT, 05/22/2024 (MT Newswires) -- Consumer stocks were leaning lower pre-bell Wednesday, with the Consumer Staples Select Sector SPDR Fund ( XLP ) and Consumer Discretionary Select Sector SPDR Fund ( XLY ) both down 0.4%.

PDD Holdings ( PDD ) shares were up more than 5% after the company reported higher Q1 non-GAAP earnings and revenue.

Target ( TGT ) stock was down more than 9% after the company posted lower fiscal Q1 adjusted earnings and revenue.

Williams-Sonoma ( WSM ) shares were over 8% higher after the company reported fiscal Q1 non-GAAP earnings of $4.07 per diluted share, up from $2.64 a year earlier.