03:28 PM EDT, 03/18/2024 (MT Newswires) -- Consumer stocks rose late Monday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) adding 0.7% and the Consumer Discretionary Select Sector SPDR Fund (XLY) gaining 1%.

In corporate news, Canoo ( GOEV ) shares surged 53% after the company said its Oklahoma City facility was approved by the US Department of Commerce as a foreign trade zone. Under the FTZ, vehicles sold overseas will incur no custom duties, and duties on imported parts used in domestically sold vehicles will be deferred, the company said.