01:23 PM EDT, 04/05/2024 (MT Newswires) -- Consumer stocks rose Friday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) climbing 0.9%.

In corporate news, Paramount (PARA) would continue to trade publicly under an offer made by Skydance Media, CNBC reported. Under the terms of the deal, Skydance would either own a substantial minority stake or a majority stake in Paramount. Shares of Paramount fell 2.8%.