03:27 PM EDT, 04/10/2024 (MT Newswires) -- Consumer stocks fell late Wednesday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.3% and the Consumer Discretionary Select Sector SPDR Fund (XLY) dropping1.5%.

In corporate news, Macy's (M) elected two independent directors nominated by activist shareholder Arkhouse Management, ending a proxy battle as the parties continue to engage over a potential acquisition of the department store operator. Macy's shares rose 1%.